Guideline Value for BALAJI NAGAR THIRUVALLUVAR STREET

Balaji Nagar Thiruvalluvar Street guideline value

The current guideline value of Balaji Nagar Thiruvalluvar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Thundalam village and falls under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar Thiruvalluvar Street has changed

The guideline value for Balaji Nagar Thiruvalluvar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. However, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 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 have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value of Balaji Nagar Thiruvalluvar Street is above this median.

• Balaji Nagar Thilagar 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 Thiruvalluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be 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 duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Thiruvalluvar Street?

The Sub Registrar Office covering Balaji Nagar Thiruvalluvar 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 here.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thundalam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these costs are based on an official valuation rather than the sale price alone.

When a property is registered, the buyer must pay the stamp duty and registration fees calculated from the guideline value or the sale price, whichever is higher. This system helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of Balaji Nagar Thiruvalluvar 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 2023 to Rs 2,750 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Balaji Nagar Thiruvalluvar Street?

Balaji Nagar Thiruvalluvar Street is classified as Residential Class I Type - I. This classification is important for understanding the permissible uses of the land.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Balaji Nagar Thiruvalluvar 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.

What is the range of guideline values for other streets in Thundalam?

The guideline values for other streets in Thundalam range from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. Balaji Nagar Thiruvalluvar Street's value is above this median, indicating a higher valuation compared to many other streets in the area.