Guideline Value for BALAJI NAGAR 3RD STREET

Balaji Nagar 3rd Street guideline value

The current guideline value of Balaji Nagar 3rd Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Balaji Nagar 3rd Street has changed

The guideline value for Balaji Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision when it dropped to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,660 per sq.ft, marking an 11% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, which is equal to the current value of Balaji Nagar 3rd Street.

• Balaji Nagar 3rd Cross Street: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 2nd Cross Street: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Balaji Nagar: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 3rd Street?

The Sub Registrar Office that covers Balaji Nagar 3rd Street 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 Vanagaram

The guideline value is a crucial factor during the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that transactions are conducted at a fair value as per the government regulations.

When a property is sold, the guideline value is assessed to calculate the applicable charges. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, making it essential to understand these values before proceeding with a transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar 3rd Street?

The current guideline value of Balaji Nagar 3rd Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,660 per sq.ft in 2024, with various revisions in between. The most significant increase was from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

Which Sub Registrar Office covers Balaji Nagar 3rd Street?

The Chennai South Joint I Sub Registrar Office covers Balaji Nagar 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the stamp duty for property in Balaji Nagar 3rd Street?

The stamp duty for property in Balaji Nagar 3rd Street is calculated at 7% of the guideline value. For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200.

What is the land classification of Balaji Nagar 3rd Street?

Balaji Nagar 3rd Street is classified as Residential Class III Type - I, indicating its suitability for residential development.