Guideline Value for BALAJI NAGAR VIRIVAKKAM

Balaji Nagar Virivakkam guideline value

The current guideline value of Balaji Nagar Virivakkam is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Ponneri_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar Virivakkam has changed

The guideline value for Balaji Nagar Virivakkam has undergone several revisions over the years. In the 2017 revision, the guideline value was set at Rs 469 per sq.ft. This value saw a significant increase of 49% by the 2023 revision, where it remained at Rs 700 per sq.ft. The 2024 revision also maintains this value at Rs 700 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the guideline value of Balaji Nagar.

• Balammal Nagar: Rs 700 per sq.ft (2024)
• Balammal Street: Rs 702 per sq.ft (2024)
• Balan Nagar: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,200 per sq.ft (2024)
• Bharathi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Virivakkam

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at a rate of 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Virivakkam?

The Sub Registrar Office that covers Balaji Nagar Virivakkam is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value plays a crucial role in the registration process of property transactions in Ponneri_2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is considered to ensure that the transaction is aligned with the official rates set by the Registration Department. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Virivakkam?

The current guideline value of Balaji Nagar Virivakkam is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase overall.

What is the land classification of Balaji Nagar Virivakkam?

Balaji Nagar Virivakkam is classified as Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Balaji Nagar Virivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.