Guideline Value for Balaji nagar

Balaji nagar guideline value

The current guideline value of Balaji nagar is Rs 1,568 per sq.ft, effective from 1 July 2024. Balaji nagar is located in Singanallur village, which falls under the Singanallur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Balaji nagar has changed

The guideline value for Balaji nagar has seen several revisions over the years. In 2002, the value was Rs 136 per sq.ft, which increased to Rs 153 per sq.ft in 2003. The next revision was in 2012, where it rose to Rs 1,400 per sq.ft, but then decreased to Rs 938 per sq.ft in 2017. Following a significant increase, the value reached Rs 1,400 per sq.ft in 2023, and finally, it is now Rs 1,568 per sq.ft in 2024. The register has no figure for this street in 2007.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of +13%. The value then saw a substantial increase of +815% from 2003 to 2012. However, it experienced a decrease of -33% from 2012 to 2017. After that, the value increased by +49% from 2017 to 2023, and finally, there was a rise of +12% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1,053%.

Guideline values in Singanallur

In Singanallur village, there are 313 streets under the Singanallur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,360 per sq.ft. The median guideline value for these streets is Rs 1,120 per sq.ft, and Balaji nagar's current value is above this median.

• Bajanai koil veethy: Rs 1,002 per sq.ft (2024)
• Balaji Nagar Railway Line South: Rs 1,006 per sq.ft (2024)
• AZIZ Nagar: Rs 1,001 per sq.ft (2024)
• Bannari Amman Nagar: Rs 1,003 per sq.ft (2024)
• Bannari nagar Kudisai: Rs 1,006 per sq.ft (2024)
• Bazzar Street: Rs 1,680 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 1,568 per sq.ft, the total guideline value amounts to Rs 15,68,000. The stamp duty at 7% would be Rs 1,09,760, and the registration fee at 2% would be Rs 31,360, together totaling Rs 1,41,120. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 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 Singanallur

The guideline value is a crucial factor during the registration of property transactions in Singanallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This valuation is essential for calculating the applicable taxes and fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Balaji nagar?

The current guideline value of Balaji nagar is Rs 1,568 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 136 per sq.ft in 2002 to Rs 1,568 per sq.ft in 2024, showing an overall increase of +1,053% over the years.

What is the land classification for Balaji nagar?

Balaji nagar is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where can I find the registration office for Balaji nagar?

The Singanallur Sub Registrar Office covers Balaji nagar and is located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111, Coimbatore registration zone.

How is stamp duty calculated for properties in Balaji nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 15,68,000 would incur a stamp duty of Rs 1,09,760 at a rate of 7%.