Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Ward 10 village and is classified as Residential Class I Type - III, governed by the Peelamedu SRO.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value for Balaji Nagar has seen significant changes. The 2007 revision recorded a value of Rs 570 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 251%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 286%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ward 10

In Ward 10 under the Peelamedu SRO, there are 224 streets with a 2024 guideline value ranging from Rs 1,000 to Rs 7,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current figure for Balaji Nagar.

• Bajhanai Kovil Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar (or) Road: Rs 2,200 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,320 per sq.ft (2024)
• Balasundaram Road: Rs 4,950 per sq.ft (2024)
• Bazar Street: Rs 2,200 per sq.ft (2024)
• Avinashi Road Main: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward 10

The guideline value plays a crucial role in the registration process of property transactions in Ward 10. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 570 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - III, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for Balaji Nagar?

The Peelamedu Sub Registrar Office covers Balaji Nagar and is located at 6/1, Grd Road, Redfields, Coimbatore - 18.

How is stamp duty calculated for property in Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.