Guideline Value for Banker Street

Banker Street guideline value

The current guideline value of Banker Street in Vellalore village is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Singanallur SRO and is classified as Residential Class II Type - III.

How the guideline value of Banker Street has changed

The guideline value for Banker Street has seen several revisions over the years. The 2012 revision set the value at Rs 175 per sq.ft, which then decreased to Rs 117 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 200 per sq.ft in 2023, and further to Rs 220 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 26%. The 2023 to 2024 change was a positive adjustment of 10%, while the shift from 2017 to 2023 showed a substantial increase of 71%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vellalore

In Vellalore, there are 307 streets under the Singanallur SRO with a 2024 guideline value ranging from Rs 210 to Rs 3,850 per sq.ft. The median value for these streets is Rs 330 per sq.ft, placing Banker Street's 2024 value below this median.

• Balamurugan Nagar: Rs 550 per sq.ft (2024)
• Bharathiar Street: Rs 220 per sq.ft (2024)
• Balaji Nagar: Rs 440 per sq.ft (2024)
• Bajanai koil veethy: Rs 330 per sq.ft (2024)
• Badmanabathever Street: Rs 330 per sq.ft (2024)
• Babukan Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Banker Street

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. 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 Banker Street?

The Banker Street is covered by 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 serves as a benchmark for property transactions in Vellalore. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property.

When registering a property, the higher amount between the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Banker Street?

The current guideline value of Banker Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2012 to Rs 220 per sq.ft in 2024, with significant increases noted in 2023 and 2024.

What is the land classification of Banker Street?

Banker Street is classified as Residential Class II Type - III under the current guidelines.

Where can I find the registration office for Banker Street?

The registration office for Banker Street is the Singanallur Sub Registrar Office, located at Podanur Main Road, Vellalur, Madukarai Tk, Coimbatore Dt- 641111.

How is the stamp duty calculated for property in Banker Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400.