Guideline Value for BALAJI NAGAR THILAGAR STREET

Balaji Nagar Thilagar Street guideline value

The current guideline value of Balaji Nagar Thilagar Street is Rs 2,750 per sq.ft. This street is located in Thundalam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar Thilagar Street has changed

The guideline value for Balaji Nagar Thilagar Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure was then revised to Rs 1,675 per sq.ft in 2017, which represented a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, 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 Thilagar Street's current value above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Thilagar Street?

The Sub Registrar Office covering Balaji Nagar Thilagar 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 Thundalam

The guideline value is a critical factor when buying or selling property in Thundalam, as it determines the base value for taxation purposes. When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Buyers should be aware that the guideline value can impact the overall cost of the transaction. It is advisable to check the current guideline value before proceeding with any property transactions to ensure accurate budgeting for taxes and fees.

Frequently asked questions

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

The current guideline value of Balaji Nagar Thilagar 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Balaji Nagar Thilagar Street?

Balaji Nagar Thilagar Street is classified as Residential Class I Type - I.

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

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.

Which office handles the registration for Balaji Nagar Thilagar Street?

The registration for Balaji Nagar Thilagar Street is 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.