Guideline Value for Bombay Hall

Bombay Hall guideline value

The current guideline value of Bombay Hall, located in Ooty Town village, is Rs 1,800 per sq.ft, effective from the 2024 revision, which will be in force from 1 July 2024. This property falls under the Residential Class I Type - I land classification and is registered with the Uthagamandalam -Joint I SRO.

How the guideline value of Bombay Hall has changed

The guideline value of Bombay Hall has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged in the subsequent 2017 revision, where the value was adjusted to Rs 1,206 per sq.ft, marking a decrease of 33%. By the 2023 revision, the value returned to Rs 1,800 per sq.ft, maintaining this figure through the 2024 revision, which also set it at Rs 1,800 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 1,800 per sq.ft.

Guideline values in Ooty Town

In Ooty Town, there are 209 streets under the Uthagamandalam -Joint I SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 4,251 per sq.ft, with the median value being Rs 1,800 per sq.ft. The guideline value for Bombay Hall is equal to this median.

• Bombay Castle D/2/23: Rs 1,800 per sq.ft (2024)
• Brick Field Road F/6/14: Rs 1,800 per sq.ft (2024)
• Burnfoot (Near Ettines Salai) D/1/2: Rs 4,251 per sq.ft (2024)
• Bus Stand G/5/12,H/2/2,H/1/4: Rs 1,800 per sq.ft (2024)
• Butcher Street E/9/1: Rs 1,500 per sq.ft (2024)
• Butfire A/8/11: Rs 1,250 per sq.ft (2024)

Stamp duty and registration fee for property in Bombay Hall

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, making the total charges Rs 1,62,000. It is important to note that the 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 details on calculating these fees.

Which Sub Registrar Office covers Bombay Hall?

The Sub Registrar Office that covers Bombay Hall is the Uthagamandalam -Joint I Sub Registrar Office, located at Govt Arts College Road, Stone House Hill, Ooty Town, PIN-643001, Coimbatore registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Ooty Town. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees, which are based on the higher value between the guideline value and the sale price. This ensures transparency and adherence to legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Bombay Hall?

The current guideline value of Bombay Hall is Rs 1,800 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 1,800 per sq.ft in both 2023 and 2024. It decreased to Rs 1,206 per sq.ft in 2017 from Rs 1,800 per sq.ft in 2012, before returning to Rs 1,800 per sq.ft in 2023.

What is the land classification of Bombay Hall?

Bombay Hall is classified as Residential Class I Type - I, which indicates its designation for residential use within the area.

What is the stamp duty rate for property transactions?

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

Where is the Sub Registrar Office for Bombay Hall located?

The Sub Registrar Office covering Bombay Hall is located at Govt Arts College Road, Stone House Hill, Ooty Town, PIN-643001, Coimbatore registration zone.