Guideline Value for BALAJI NAGAR PHASE-II

Balaji Nagar Phase-II guideline value

The current guideline value of Balaji Nagar Phase-II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Karumbur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Balaji Nagar Phase-II has changed

The guideline value for Balaji Nagar has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft. Following that, the 2023 revision brought the value back up to Rs 500 per sq.ft, which was maintained in the 2024 revision, reflecting a 49% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

Guideline values in Karumbur

In Karumbur, there are 10 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 600 per sq.ft, with a median value of Rs 501 per sq.ft. Balaji Nagar's 2024 figure is below this median value.

• Balakirshnan Nagar: Rs 350 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• Alavattayamman Nagar: Rs 350 per sq.ft (2024)
• Goldan Royal: Rs 501 per sq.ft (2024)
• Jayamaruthi Puram: Rs 501 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar Phase-II?

The Sub Registrar Office that covers Balaji Nagar Phase-II is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karumbur. It serves as a benchmark for determining the stamp duty and registration fees payable to the government.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and transparently. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar Phase-II?

The current guideline value of Balaji Nagar Phase-II is Rs 500 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 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Balaji Nagar Phase-II?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,00,000, with a stamp duty of Rs 35,000 and a registration fee of Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers Balaji Nagar Phase-II?

The Chengleput Joint II Sub Registrar Office covers Balaji Nagar Phase-II, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Balaji Nagar Phase-II?

The land classification for Balaji Nagar Phase-II is Residential Class V Type - I.