Guideline Value for BALAJI NAGAR (WARD -19)

Balaji Nagar (Ward -19) guideline value

The current guideline value of Balaji Nagar (Ward -19) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor 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 undergone 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 the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and finally, it rose to Rs 661 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a modest increase of 10%. The most notable change occurred between the 2017 and 2023 revisions, where the value increased by 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Balaji Nagar's current value below this median.

• Bethanaidu Street (Ward -18): Rs 660 per sq.ft (2024)
• Bharanar Steet (Ward -6): Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street (Ward -19): Rs 550 per sq.ft (2024)
• Bajanai Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Bajanai Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• Bharathiar Street (Ward -18): Rs 660 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 guideline value of Rs 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220, resulting in a total of Rs 59,490. It is important to note that the 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 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 Peramanoor

The guideline value is a crucial factor when registering property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the registration process is transparent and fair.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, promoting a smooth transfer of property ownership.

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 661 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 to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

What is the land classification for Balaji Nagar (Ward -19)?

Balaji Nagar (Ward -19) is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Balaji Nagar (Ward -19)?

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 are stamp duty and registration fees calculated for properties in Balaji Nagar (Ward -19)?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.