Guideline Value for BALAJI NAGAR (NEAR RAILWAY TRACK)

Balaji Nagar (Near Railway Track) guideline value

The current guideline value of Balaji Nagar (Near Railway Track) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar (Near Railway Track) has changed

Over the years, the guideline value of Balaji Nagar (Near Railway Track) has undergone several revisions. The earliest recorded figure in the register is from 2007, where the guideline value was Rs 375 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 567%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The most recent revision in 2024 shows a guideline value of Rs 2,700 per sq.ft, reflecting an increase of 61% from 2017.

It is important to note that there are no figures recorded for the years 2023, 2003, and 2002 for this street, indicating a gap in the available data for those years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Balaji Nagar (Near Railway Track) above this median.

• Balaji Nagar Mullai Street: Rs 2,700 per sq.ft (2024)
• Balaji Nagar Near Railway Track 1,2,3 Streets: Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension (Near Railway Track): Rs 2,700 per sq.ft (2024)
• Balan Nagar: Rs 1,600 per sq.ft (2024)
• Balavinayagar Nagar Extention: Rs 2,010 per sq.ft (2024)
• Balavingayar Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar (Near Railway Track)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar (Near Railway Track)?

The Sub Registrar Office that covers Balaji Nagar (Near Railway Track) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Korattur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Balaji Nagar (Near Railway Track)?

The current guideline value of Balaji Nagar (Near Railway Track) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 620% over the years.

What is the registration office for Balaji Nagar (Near Railway Track)?

The registration office for Balaji Nagar (Near Railway Track) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How do I calculate the stamp duty for property in Balaji Nagar (Near Railway Track)?

To calculate the stamp duty, you need to multiply the guideline value by 7%. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the stamp duty would be Rs 1,89,000.

What are the other streets in Korattur with guideline values?

Other streets in Korattur include Balaji Nagar Mullai Street, Balaji Nagar Near Railway Track 1,2,3 Streets, Balaji Nagar Extension (Near Railway Track), Balan Nagar, Balavinayagar Nagar Extension, and Balavingayar Koil Street, each with varying guideline values.