Guideline Value for BALAJI NAGAR /EXTN

Balaji Nagar /Extn guideline value

The current guideline value of Balaji Nagar /Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO with a land classification of Residential Class III Type - I.

How the guideline value of Balaji Nagar /Extn has changed

The guideline value for Balaji Nagar /Extn has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, the value was adjusted to Rs 1,005 per sq.ft. This was followed by a substantial increase to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, the value increased by 200% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. The value saw a significant rise of 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

Guideline values in Kolathuvancheri

Kolathuvancheri has a total of 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value for Balaji Nagar /Extn.

• Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Balaji Nagar Cross Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Bala Murugan Nagar: Rs 3,410 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar /Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar /Extn?

The Sub Registrar Office that covers Balaji Nagar /Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Kolathuvancheri. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. This ensures compliance with legal requirements and helps in avoiding disputes during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar /Extn?

The current guideline value of Balaji Nagar /Extn is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the registration office for Balaji Nagar /Extn?

The registration office for Balaji Nagar /Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for property transactions?

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

Where can I find more information on guideline values in Kolathuvancheri?

For more information on guideline values in Kolathuvancheri, you can refer to the registration department's guideline value register or visit the Chennai South Joint I SRO.