Guideline Value for BALAJI NAGAR BHARATHIYAR STREET

Balaji Nagar Bharathiyar Street guideline value

The current guideline value of Balaji Nagar Bharathiyar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Thundalam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaji Nagar Bharathiyar Street has changed

Over the years, the guideline value of Balaji Nagar Bharathiyar Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 increased it further to Rs 2,750 per sq.ft, marking a 10% rise.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The changes from 2017 to 2023 represent a significant increase of 49%, while the value from 2023 to 2024 saw a 10% increase.

Guideline values in Thundalam

Thundalam village has 97 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Balaji Nagar Bharathiyar Street's 2024 figure above this median.

• Balaji Nagar: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Radha Krishnan Salai: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Thilagar Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Appadurai Pillai Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Bharathiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Balaji Nagar Bharathiyar Street?

The Balaji Nagar Bharathiyar Street falls under 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thundalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar Bharathiyar Street?

The current guideline value of Balaji Nagar Bharathiyar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. The value has also increased from Rs 1,675 per sq.ft in 2017, marking a 49% rise over the six years.

What is the land classification for Balaji Nagar Bharathiyar Street?

The land classification for Balaji Nagar Bharathiyar Street is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Balaji Nagar Bharathiyar Street?

The registrations for Balaji Nagar Bharathiyar Street are 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.