Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Malliyankaranai village under the Uthiramerur SRO, is Rs 250 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

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 250 per sq.ft, which remained unchanged until the 2023 revision. In the 2017 revision, the value was reduced to Rs 167 per sq.ft, marking a decrease of 33%. However, the value increased by 50% in the 2023 revision, bringing it back to Rs 250 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 250 per sq.ft, showing no change from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malliyankaranai

In Malliyankaranai, there are 42 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft, with a median value of Rs 401 per sq.ft. The guideline value of Balaji Nagar is below this median.

• A.V.Avenu: Rs 250 per sq.ft (2024)
• Arunachala PillaiChatiram Kalani: Rs 300 per sq.ft (2024)
• Arunachalapillai Chatiram: Rs 401 per sq.ft (2024)
• Chellammal Nagar: Rs 401 per sq.ft (2024)
• Chettipettai: Rs 200 per sq.ft (2024)
• Anna Nagar: Rs 401 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

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. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 250 per sq.ft as per the 2024 revision 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 2012 to Rs 167 per sq.ft in 2017, then increased to Rs 250 per sq.ft in 2023, and remains the same in 2024.

What are the other streets in Malliyankaranai and their guideline values?

Other streets in Malliyankaranai include A.V.Avenu at Rs 250 per sq.ft, Arunachala PillaiChatiram Kalani at Rs 300 per sq.ft, and Arunachalapillai Chatiram at Rs 401 per sq.ft, among others.

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

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where is the Sub Registrar Office for Balaji Nagar located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.