Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which changed to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. In 2023, the value increased to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figure for Balaji Nagar for the years 2002, 2003, and 2007.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the current guideline value for Balaji Nagar.

• Bajanai Koil Street: Rs 3,700 per sq.ft (2024)
• Bethel Nagar: Rs 1,650 per sq.ft (2024)
• Bharathiar Nagar: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,900 per sq.ft (2024)
• Bogar Avenue: Rs 2,730 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office covering Balaji Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Vengaivasal. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate taxes based on the property's value.

When you proceed with a transaction, the guideline value will be assessed, and the stamp duty will be calculated based on this value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,700 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 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Balaji Nagar?

The land classification for Balaji Nagar is Mixed Type - II, which indicates the type of development allowed in the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Vengaivasal?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.