Guideline Value for Bombay Nagar

Bombay Nagar guideline value

The current guideline value of Bombay Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Narasimmanaickenpalayam village under the Periyanayakkan Palayam SRO, classified as Residential Class III Type - V.

How the guideline value of Bombay Nagar has changed

The guideline value for Bombay Nagar has seen several revisions over the years. In 2012, the value was set at Rs 180 per sq.ft, which then decreased to Rs 121 per sq.ft in 2017. Following this, the value increased significantly to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 65%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 22%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Narasimmanaickenpalayam

Narasimmanaickenpalayam village has a total of 153 streets under the Periyanayakkan Palayam SRO, with guideline values ranging from Rs 220 to Rs 1,340 per sq.ft. The median value for these streets is Rs 310 per sq.ft, indicating that the guideline value for Bombay Nagar is below this median.

• Cardwell Spinning Mills Area: Rs 220 per sq.ft (2024)
• Chennamanaickenur: Rs 220 per sq.ft (2024)
• Chitra Nagar: Rs 450 per sq.ft (2024)
• City Circle: Rs 1,340 per sq.ft (2024)
• Daimand Nagar: Rs 220 per sq.ft (2024)
• Deniel Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Bombay Nagar

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, totaling Rs 19,800. 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 Bombay Nagar?

The Sub Registrar Office covering Bombay Nagar is the Periyanayakkan Palayam Sub Registrar Office, located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Narasimmanaickenpalayam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the registration office will use the guideline value to calculate the applicable duties. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Bombay Nagar?

The current guideline value of Bombay Nagar 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 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017, then to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024.

What is the median guideline value in Narasimmanaickenpalayam?

The median guideline value for streets in Narasimmanaickenpalayam is Rs 310 per sq.ft, while Bombay Nagar's value is below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Bombay Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Bombay Nagar is located at No.171, Kuppichipalayam Road, Railway Feeder Road, Periyanaickenpalayam, Coimbatore -641020.