Guideline Value for BALAJI NAGAR PART - I

Balaji Nagar Part - I guideline value

The current guideline value of Balaji Nagar Part - I is Rs 200 per sq.ft, effective from 1 July 2024. This locality is situated in Palnalloor village under the Sunguvarchattram SRO, classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar Part - I has changed

The guideline value for Balaji Nagar Part - I has undergone several revisions over the years. In 2012, the guideline value was set at Rs 200 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 134 per sq.ft. The subsequent revision in 2023 brought it back to Rs 200 per sq.ft, and the latest revision in 2024 has maintained this figure at Rs 200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained stable with no change.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft, with the median value being Rs 200 per sq.ft. Balaji Nagar Part - I's 2024 figure aligns perfectly with this median.

• BalaVinayagar Street: Rs 175 per sq.ft (2024)
• Bajanai Kovil Street: Rs 175 per sq.ft (2024)
• Bharathi Nagar: Rs 200 per sq.ft (2024)
• Anumanth Nagar: Rs 200 per sq.ft (2024)
• Colony School Street: Rs 175 per sq.ft (2024)
• Annai Therasa Nagar: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Part - I

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost Rs 18,000. It is important to 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 Part - I?

The Sub Registrar Office covering Balaji Nagar Part - I is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Palnalloor. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is a baseline for these calculations.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value, as the stamp duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Part - I?

The current guideline value of Balaji Nagar Part - I is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes: it was Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and then returned to Rs 200 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the stamp duty rates for properties in Balaji Nagar Part - I?

The stamp duty rate for properties in Balaji Nagar Part - I is 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 14,000.

Where is the Sub Registrar Office for Balaji Nagar Part - I located?

The Sub Registrar Office for Balaji Nagar Part - I is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a baseline, ensuring that the appropriate taxes are collected based on the property's value.