Guideline Value for Balu Enclave

Balu Enclave guideline value

The current guideline value for Balu Enclave in Madhukarai village, under the Madukkarai SRO, is Rs 405 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balu Enclave has changed

In the 2012 revision, the guideline value was Rs 360 per sq.ft. This figure was then reduced to Rs 241 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 360 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 405 per sq.ft, an increase of 13% from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Madhukarai

In Madhukarai, there are 178 streets under the Madukkarai SRO that carry a 2024 guideline value, ranging from Rs 315 to Rs 1,535 per sq.ft. The median value for these streets is Rs 339 per sq.ft, placing Balu Enclave's 2024 figure above that median.

• Balu Resitency Phase-I&II: Rs 405 per sq.ft (2024)
• Highway City: Rs 405 per sq.ft (2024)
• Pheonix Nagar: Rs 405 per sq.ft (2024)
• Raja Rajeshwari Nagar: Rs 405 per sq.ft (2024)
• Sakthi Garden: Rs 405 per sq.ft (2024)
• Silver Spring Annex: Rs 675 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Enclave

For a 1,000 sq.ft plot at the current rate of Rs 405 per sq.ft, the guideline value would be Rs 4,05,000. The stamp duty at 7% would amount to Rs 28,350, while the registration fee at 2% would be Rs 8,100, bringing the total to Rs 36,450. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balu Enclave?

The Sub Registrar Office that covers Balu Enclave is the Madukkarai Sub Registrar Office, located at 365, Gandhi Nagar, Near Quarry Office, Palakkad Main Road, Madukkarai, Coimbatore. 641105, 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 Madhukarai

The guideline value is a crucial factor in the registration process of property transactions in Madhukarai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Balu Enclave?

The current guideline value of Balu Enclave is Rs 405 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 360 per sq.ft in 2012 to Rs 241 per sq.ft in 2017, then back to Rs 360 per sq.ft in 2023, and finally to Rs 405 per sq.ft in 2024.

What is the median guideline value in Madhukarai?

The median guideline value for streets in Madhukarai is Rs 339 per sq.ft, with Balu Enclave's 2024 figure being above this median.

What are the stamp duty rates for property in Balu Enclave?

The stamp duty rate for property transactions in Balu Enclave is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Balu Enclave?

The Madukkarai Sub Registrar Office handles registrations for Balu Enclave, located at 365, Gandhi Nagar, Near Quarry Office, Palakkad Main Road, Madukkarai, Coimbatore. 641105.