Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Walajabad village, is Rs 750 per sq.ft. This value is set to take effect from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balaji Nagar has changed

Looking at the revisions over the years, the guideline value for Balaji Nagar has seen several changes. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value dropped to Rs 502 per sq.ft, representing a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 750 per sq.ft in 2023. The 2024 revision maintains this value at Rs 750 per sq.ft, indicating no change from the previous year.

There are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 750 per sq.ft.

Guideline values in Walajabad

In Walajabad village, there are 196 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, which aligns with the guideline value of Balaji Nagar.

• Balaji Nagar @ Sunshaine Nagar: Rs 500 per sq.ft (2024)
• Barathi Nagar: Rs 750 per sq.ft (2024)
• Bazaar Street: Rs 750 per sq.ft (2024)
• Beemaraya Mudhaliar Stret: Rs 750 per sq.ft (2024)
• Bhagavathimman Koil St: Rs 750 per sq.ft (2024)
• Bagavathiyamman Kovil St: Rs 750 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 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty is calculated at 7%, which is Rs 52,500, and the registration fee is at 2%, amounting to Rs 15,000. Therefore, the total cost for these fees would be Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Walajabad. It serves as a reference point for calculating the stamp duty and registration fees that are required during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value helps determine the official value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft since the 2012 revision, with a drop to Rs 502 per sq.ft in 2017, followed by an increase of 49% to return to Rs 750 per sq.ft in 2023.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class IV Type - I, indicating its purpose for residential development.

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

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Balaji Nagar?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 67,500.