Guideline Value for BALAJI NAGAR (PADI)

Balaji Nagar (Padi) guideline value

The current guideline value of Balaji Nagar (Padi) is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Padi village under the Villivakkam SRO and is classified as Residential Class III Type - III.

How the guideline value of Balaji Nagar (Padi) has changed

The guideline value for Balaji Nagar (Padi) has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease in 2017 to Rs 2,680 per sq.ft. In 2023, the value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, where the median value is Rs 3,800 per sq.ft. The guideline value for Balaji Nagar (Padi) is above this median.

• BASKAR NAGAR (S.No.356/2): Rs 2,500 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street: Rs 3,400 per sq.ft (2024)
• Ayyothiamman Koil Street: Rs 2,500 per sq.ft (2024)
• Avvai Street: Rs 2,500 per sq.ft (2024)
• ASIAD COLONY (7th Avenue): Rs 13,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar (Padi)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Balaji Nagar (Padi)?

The Sub Registrar Office that covers Balaji Nagar (Padi) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the registration process.

When purchasing property in Balaji Nagar (Padi), it is essential to consider the guideline value to ensure compliance with local regulations. This value helps in determining the financial obligations related to the property transfer, ensuring that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Balaji Nagar (Padi)?

The current guideline value of Balaji Nagar (Padi) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Balaji Nagar (Padi)?

Balaji Nagar (Padi) is classified as Residential Class III Type - III.

What are the other streets in Padi and their guideline values?

Other streets in Padi include BASKAR NAGAR, Bajanai Koil Street, Bharathidasan Street, Ayyothiamman Koil Street, Avvai Street, and ASIAD COLONY, with guideline values ranging from Rs 2,500 to Rs 13,100 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Balaji Nagar (Padi)?

The Villivakkam Sub Registrar Office covers Balaji Nagar (Padi) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.