Guideline Value for BALAJI NAGAR (WARD -19)

Balaji Nagar (Ward -19) guideline value

The current guideline value of Balaji Nagar (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Balaji Nagar (Ward -19) has changed

The guideline value for Balaji Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in 2017. Following this, the value increased to Rs 600 per sq.ft in 2023, and finally, the current value is Rs 660 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. The increase from 2023 to 2024 is 10%, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, which indicates that the 2024 figure for Balaji Nagar is below this median.

• Bethanaidu Street (Ward -18): Rs 550 per sq.ft (2024)
• Bharanar Steet (Ward -6): Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street (Ward -19): Rs 440 per sq.ft (2024)
• Bajanai Koil Street (Ward -17): Rs 550 per sq.ft (2024)
• Bajanai Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Bharathiar Street (Ward -18): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar (Ward -19)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total Rs 59,400. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Balaji Nagar (Ward -19)?

The Sub Registrar Office that covers Balaji Nagar (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. This value is essential for both buyers and sellers to understand the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar (Ward -19)?

The current guideline value of Balaji Nagar (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Balaji Nagar (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.