Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This locality is situated in Vellalore village, under the Singanallur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. In the 2012 revision, the value was Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a rise of 49%. The latest revision in 2024 has set the value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase in the guideline value.

Guideline values in Vellalore

In Vellalore, there are 307 streets under the Singanallur SRO, with guideline values for 2024 ranging from Rs 210 to Rs 3,850 per sq.ft. The median guideline value in the area is Rs 330 per sq.ft, placing Balaji Nagar's 2024 figure above this median.

• Bajanai koil veethy: Rs 330 per sq.ft (2024)
• Balamurugan Nagar: Rs 550 per sq.ft (2024)
• Badmanabathever Street: Rs 330 per sq.ft (2024)
• Babukan Street: Rs 770 per sq.ft (2024)
• Banker Street: Rs 220 per sq.ft (2024)
• Bharathiar Street: Rs 220 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 440 per sq.ft, the guideline value is Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vellalore. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these costs are aligned with the official property valuation.

When a property transaction occurs, the buyer and seller must consider the guideline value as it impacts the overall financial obligations involved in the registration. This value serves as a benchmark for the legal documentation and compliance required during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Balaji Nagar?

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

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office handles registrations for Balaji Nagar?

The Singanallur Sub Registrar Office handles registrations for Balaji Nagar, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111.