Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Thiruporur village, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur SRO and is classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which saw a significant increase to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, in 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then increased to Rs 700 per sq.ft in 2023, followed by a further rise to Rs 770 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 208%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that have a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Balaji Nagar is below this median.

• Chengalpattu Road: Rs 770 per sq.ft (2024)
• East Mada Street: Rs 880 per sq.ft (2024)
• Eri Karai Street: Rs 660 per sq.ft (2024)
• Gandhi Street: Rs 880 per sq.ft (2024)
• Gokul Avenue: Rs 1,320 per sq.ft (2024)
• Harijan Colony: Rs 495 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruporur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the official value of the property, ensuring that the appropriate taxes are levied based on this value. This process helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 208% over the years.

What is the land classification of Balaji Nagar?

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

Where can I find the Sub Registrar Office for Balaji Nagar?

The Sub Registrar Office for Balaji Nagar is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is the stamp duty calculated for property in Balaji Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.