Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 420 per sq.ft, effective from 1 July 2024. This area is located in Ward 2 village under the Pollachi Sub Registrar Office (SRO) and is classified as Residential Class IV Type - II.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value of Balaji Nagar has undergone several revisions. The earliest available figure is from 2007, where the value was Rs 200 per sq.ft. In 2012, it increased to Rs 420 per sq.ft, marking a significant rise of 110%. However, in 2017, it dropped to Rs 281 per sq.ft, reflecting a decrease of 33%. The value remained at Rs 420 per sq.ft in 2023 and continues to be the same in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The current guideline value of Rs 420 per sq.ft in 2024 is equal to the median value of Rs 420 per sq.ft for the 79 streets in Ward 2 under the Pollachi SRO. Overall, from 2007 to 2024, the guideline value has increased by 110%.

Guideline values in Ward 2

In Ward 2, the guideline values range from Rs 300 to Rs 2,500 per sq.ft, with a median of Rs 420 per sq.ft. Balaji Nagar's 2024 figure aligns with this median value. Here are some other streets in Ward 2:

• Batza Sahip Street: Rs 541 per sq.ft (2024)
• Bazar Street (Kadai Veethi): Rs 2,500 per sq.ft (2024)
• A.V.V.S.Colony: Rs 302 per sq.ft (2024)
• Arumugam Pillai Street: Rs 541 per sq.ft (2024)
• Arumugam Gounder Colony: Rs 420 per sq.ft (2024)
• Arul Vadivel Kannapuram: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 420 per sq.ft, the guideline value amounts to Rs 4,20,000. The stamp duty at 7% would be Rs 29,400, and the registration fee at 2% would be Rs 8,400, totaling Rs 37,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Pollachi Sub Registrar Office, located at No.104, Taluk Office Campus, Coimbatore Road, Pollachi - 642 001, in the Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward 2

The guideline value is a crucial factor in the registration process when buying or selling property in Ward 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When registering a property, buyers and sellers must consider the guideline value, as it influences the stamp duty and registration fees applicable to the transaction. This ensures that both parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 420 per sq.ft in 2012, dropped to Rs 281 per sq.ft in 2017, and has remained at Rs 420 per sq.ft in both 2023 and 2024.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Balaji Nagar is located at No.104, Taluk Office Campus, Coimbatore Road, Pollachi - 642 001, in the Coimbatore registration zone.

How do stamp duty and registration fees work for properties in Balaji Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 420 per sq.ft, the total stamp duty and registration fees would amount to Rs 37,800.