Guideline Value for BALAJI NAGAR 1,2,3,4

Balaji Nagar 1,2,3,4 guideline value

The current guideline value for Balaji Nagar 1,2,3,4 is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar 1,2,3,4 has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,700 per sq.ft in the 2023 revision, and finally to Rs 2,970 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for Balaji Nagar 1,2,3,4.

• Balaji Nagar: Rs 2,970 per sq.ft (2024)
• Bangalamalai Street: Rs 1,650 per sq.ft (2024)
• Bashiyam Nagar: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 1,2,3,4

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 further calculations.

Which Sub Registrar Office covers Balaji Nagar 1,2,3,4?

The Sub Registrar Office that covers Balaji Nagar 1,2,3,4 is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value provides transparency and helps in assessing the value of the property. Buyers and sellers can refer to this value to negotiate and finalize the sale price, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar 1,2,3,4?

The current guideline value of Balaji Nagar 1,2,3,4 is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification of Balaji Nagar 1,2,3,4?

Balaji Nagar 1,2,3,4 is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Balaji Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated in Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 29,70,000 would incur a stamp duty of Rs 2,07,900 at 7%.