Guideline Value for BALAJI NAGAR @ SUNSHAINE NAGAR

Balaji Nagar @ Sunshaine Nagar guideline value

The current guideline value of Balaji Nagar @ Sunshaine Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Walajabad village under the Walajabad SRO, classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar @ Sunshaine Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following that, the value saw a significant increase to Rs 500 per sq.ft in both the 2023 and 2024 revisions, reflecting a total increase of 87% from 2017 to 2023 and an overall increase of 25% from 2012 to 2024.

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 Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value for Balaji Nagar @ Sunshaine Nagar is below this median.

• Balaji Nagar: Rs 750 per sq.ft (2024)
• Barathi Nagar: Rs 750 per sq.ft (2024)
• Bazaar Street: Rs 750 per sq.ft (2024)
• Beemaraya Mudhaliar Stret: Rs 750 per sq.ft (2024)
• Bhagavathimman Koil St: Rs 750 per sq.ft (2024)
• Bharathi Nagar: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar @ Sunshaine Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000 and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. 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 more details.

Which Sub Registrar Office covers Balaji Nagar @ Sunshaine Nagar?

The Sub Registrar Office covering Balaji Nagar @ Sunshaine Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the legal obligations involved in the transaction.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balaji Nagar @ Sunshaine Nagar?

The current guideline value of Balaji Nagar @ Sunshaine Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, and then to Rs 500 per sq.ft in both 2023 and 2024. This represents an overall increase of 25% from 2012 to 2024.

What is the median guideline value in Walajabad?

The median guideline value in Walajabad is Rs 750 per sq.ft, with Balaji Nagar's current value being below this median.

What are the stamp duty and registration fees for property in Balaji Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 5,00,000. The stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles property registrations in Walajabad?

The Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone, handles property registrations in Walajabad.