Guideline Value for Banulakshmi Nagar

Banulakshmi Nagar guideline value

The current guideline value of Banulakshmi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Kavundampalayam village, under the Vadavalli SRO, and is classified as Residential Class I Type - II.

How the guideline value of Banulakshmi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 800 per sq.ft. This increased to Rs 536 per sq.ft in the 2017 revision, representing a decrease of 33%. However, from 2017 to 2023, the value rose significantly by 87%, reaching Rs 1,000 per sq.ft in the 2023 revision. The 2024 revision maintained this figure, showing no change from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value increased by 25%.

Guideline values in Kavundampalayam

Kavundampalayam village has a total of 565 streets under the Vadavalli SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 4,405 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Banulakshmi Nagar's 2024 figure at this median level.

• Barani Street: Rs 1,000 per sq.ft (2024)
• Barani Street-Devanga Nagar: Rs 1,000 per sq.ft (2024)
• Bavani Street: Rs 1,015 per sq.ft (2024)
• Bavani Street - Gandhi Nagar: Rs 1,000 per sq.ft (2024)
• Balan Nagar(52): Rs 1,000 per sq.ft (2024)
• Bharathiar Street: Rs 1,015 per sq.ft (2024)

Stamp duty and registration fee for property in Banulakshmi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 Banulakshmi Nagar?

The Sub Registrar Office that covers Banulakshmi Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kavundampalayam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the local authorities. Buyers and sellers must be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Banulakshmi Nagar?

The current guideline value of Banulakshmi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 1,000 per sq.ft in 2023 and 2024. The value was Rs 800 per sq.ft in 2012 and Rs 536 per sq.ft in 2017.

What is the land classification of Banulakshmi Nagar?

Banulakshmi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Banulakshmi Nagar?

The Sub Registrar Office for Banulakshmi Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

How is stamp duty calculated for properties in Banulakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.