Guideline Value for BALAJI NAGAR CROSS STREET

Balaji Nagar Cross Street guideline value

The current guideline value of Balaji Nagar Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balaji Nagar Cross Street has changed

Over the years, the guideline value of Balaji Nagar Cross Street has seen several revisions. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2017 raised the value to Rs 1,200 per sq.ft in 2023, which was a 49% increase.

The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 1,320 per sq.ft, representing a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 164%.

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 for Balaji Nagar Cross Street is below this median.

• Balaji Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar /Extn: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar Main Road: 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 Cross Street

For a property of 1,000 sq.ft at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Please note that the 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 Cross Street?

The Sub Registrar Office covering Balaji Nagar Cross 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 information.

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

The guideline value is a crucial factor when buying or selling property in Kolathuvancheri, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Balaji Nagar Cross 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 changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 164% over the years.

What are the stamp duty and registration fees for property in Balaji Nagar Cross Street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers Balaji Nagar Cross Street?

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

What is the land classification for Balaji Nagar Cross Street?

The land classification for Balaji Nagar Cross Street is Residential Class IV Type - I.