Guideline Value for BALA KAMATCHI NAGAR

Bala Kamatchi Nagar guideline value

The current guideline value of Bala Kamatchi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Bala Kamatchi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Bala Kamatchi Nagar.

• Balaji Nagr 2nd Block 1st Main Road: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 4th Block 3rd Street: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 4th Block 2rd Street: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 4th Block 2rd Main Road: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 4th Block 1st Main Road: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 3rd Block 3rd Steet: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Kamatchi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Bala Kamatchi Nagar?

The Sub Registrar Office that covers Bala Kamatchi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the higher value between the guideline value and the sale price is considered for duty calculation. This ensures that the registration reflects the true value of the transaction while adhering to the prescribed guidelines.

Frequently asked questions

What is the current guideline value of Bala Kamatchi Nagar?

The current guideline value of Bala Kamatchi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value remained at Rs 1,500 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

What is the land classification for Bala Kamatchi Nagar?

Bala Kamatchi Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bala Kamatchi Nagar?

The Sub Registrar Office for Bala Kamatchi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Bala Kamatchi Nagar?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.