Guideline Value for Balakrishnan Street

Balakrishnan Street guideline value

The current guideline value of Balakrishnan Street is Rs 2,300 per sq.ft, effective from 1 July 2024. This street is located in Sowripalayam village under the Peelamedu SRO, classified as Residential Class III Type - I.

How the guideline value of Balakrishnan Street has changed

The guideline value for Balakrishnan Street has undergone several revisions over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 484 per sq.ft in 2003, marking a 13% rise. The value then saw a modest increase of 5% to reach Rs 507 per sq.ft in 2007. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a significant increase of 294%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,300 per sq.ft in 2024, which is a 15% increase.

Overall, from 2002 to 2024, the guideline value has increased by 436%. There are no figures available in the register for the years not mentioned in the provided list.

Guideline values in Sowripalayam

Sowripalayam village has 186 streets under the Peelamedu SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 7,800 per sq.ft. The median value is Rs 2,300 per sq.ft, which matches the guideline value of Balakrishnan Street.

• Balathandayuthapuram (Sowripalayam): Rs 2,300 per sq.ft (2024)
• Baladhandayutham Nagar: Rs 1,350 per sq.ft (2024)
• Ayyar Road: Rs 2,300 per sq.ft (2024)
• Ayyappa Naidu Street (Peelamedu Pudhur): Rs 2,300 per sq.ft (2024)
• Bharathi Nagar or Colony: Rs 4,950 per sq.ft (2024)
• Ayyal Naidu Street: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value would be Rs 23,00,000. The stamp duty at 7% would amount to Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, bringing the total to Rs 2,07,000. 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 information.

Which Sub Registrar Office covers Balakrishnan Street?

The Sub Registrar Office that covers Balakrishnan Street is the Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sowripalayam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps determine the applicable fees. Buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Balakrishnan Street?

The current guideline value of Balakrishnan Street is Rs 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 429 per sq.ft in 2002 to Rs 2,300 per sq.ft in 2024, reflecting an overall increase of 436% over the years.

What is the land classification for Balakrishnan Street?

Balakrishnan Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Balakrishnan Street?

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

How is stamp duty calculated for properties in Balakrishnan Street?

Stamp duty is calculated at 7% of 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 1,61,000.