Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Gudalur village under the Periyanayakkan Palayam SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 70 per sq.ft. This increased significantly to Rs 450 per sq.ft in 2012, marking a remarkable rise of 543%. However, the value then decreased to Rs 301 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 brought the value up to Rs 450 per sq.ft, reflecting a 50% increase. Currently, in 2024, the guideline value stands at Rs 500 per sq.ft, which is an 11% rise from the previous year.

It is important to note that there are no recorded figures for Balaji Nagar in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 614%.

Guideline values in Gudalur

In Gudalur, there are 224 streets under the Periyanayakkan Palayam SRO that carry a 2024 guideline value ranging from Rs 320 to Rs 1,110 per sq.ft, with a median value of Rs 370 per sq.ft. The guideline value of Balaji Nagar is above this median.

• Bharathi Nagar: Rs 360 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 500 per sq.ft (2024)
• Arivozhi Nagar: Rs 340 per sq.ft (2024)
• Annapoorani Nagar: Rs 500 per sq.ft (2024)
• Anna Nagar: Rs 500 per sq.ft (2024)
• Annamalai Nagar: Rs 340 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty, charged at 7%, would amount to Rs 35,000, and the registration fee, charged at 2%, would be Rs 10,000. Together, these fees would total Rs 45,000. It is important to note that the 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 specific calculations.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Periyanayakkan Palayam Sub Registrar Office, located at No.171, kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gudalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 70 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, marking an overall increase of 614% over the years.

What are the other streets in Gudalur with their guideline values?

Other streets in Gudalur include Bharathi Nagar at Rs 360 per sq.ft, Bhuvaneswari Nagar and Annapoorani Nagar both at Rs 500 per sq.ft, and Anna Nagar also at Rs 500 per sq.ft, among others.

What are the stamp duty and registration fees for property in Balaji Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles property registrations for Balaji Nagar?

The Periyanayakkan Palayam Sub Registrar Office handles property registrations for Balaji Nagar, located at No.171, kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.