Guideline Value

Corporate

Guideline Value for BALAJI NAGAR 1ST STREET

₹1320/sq.ft.

The guideline value for Balaji Nagar 1st Street in Kolathuvancheri village (Chennai South Joint I SRO, Chennai zone) is Rs 1320 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kolathuvancheri

Village

Chennai South Joint I

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹1320 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balaji Nagar 1st Street

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Balaji Nagar 1st Street guideline value

The current guideline value of Balaji Nagar 1st Street in Kolathuvancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Balaji Nagar 1st Street has changed

The guideline value for Balaji Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, in 2017, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 164%. It is important to note that there are no recorded figures for Balaji Nagar 1st Street in the revisions of 2002 and 2003.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Balaji Nagar 1st Street is below this median.

Stamp duty and registration fee for property in Balaji Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that 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 1st Street?

Balaji Nagar 1st Street is covered by 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. This ensures that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar 1st Street?

The current guideline value of Balaji Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the land classification for Balaji Nagar 1st Street?

Balaji Nagar 1st Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles the registration for Balaji Nagar 1st Street?

The registration for Balaji Nagar 1st Street is handled by 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.