Guideline Value for BALAJI NAGAR NEAR RAILWAY TRACK 1,2,3 STREETS

Balaji Nagar Near Railway Track 1,2,3 Streets guideline value

The current guideline value for Balaji Nagar Near Railway Track 1,2,3 Streets is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balaji Nagar Near Railway Track 1,2,3 Streets has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 8%.

For the years 2002, 2003, 2007, and 2017, the register has no figure for this street. Therefore, the only revisions available for reference are from 2012, 2023, and 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, positioning Balaji Nagar Near Railway Track 1,2,3 Streets above this median.

• Balaji Nagar (Near Railway Track): Rs 2,700 per sq.ft (2024)
• Balaji Nagar Mullai Street: Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension (Near Railway Track): Rs 2,700 per sq.ft (2024)
• Balan Nagar: Rs 1,600 per sq.ft (2024)
• Balavinayagar Nagar Extention: Rs 2,010 per sq.ft (2024)
• Balavingayar Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Near Railway Track 1,2,3 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Balaji Nagar Near Railway Track 1,2,3 Streets?

The Sub Registrar Office that covers Balaji Nagar Near Railway Track 1,2,3 Streets is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty and registration fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for Balaji Nagar Near Railway Track 1,2,3 Streets?

The current guideline value for Balaji Nagar Near Railway Track 1,2,3 Streets is Rs 2,700 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 2012 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% over this period.

What is the land classification for Balaji Nagar Near Railway Track 1,2,3 Streets?

The land classification for Balaji Nagar Near Railway Track 1,2,3 Streets is Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office for Balaji Nagar Near Railway Track 1,2,3 Streets is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.