Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Korattur-B village, under the Avadi SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar has changed

The guideline value register for Balaji Nagar shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 550 per sq.ft.

Since there are no figures available for the previous revisions, there have been no changes in the guideline value of Balaji Nagar over the years. The current value reflects the latest update effective from July 2024.

Guideline values in Korattur-B

In Korattur-B, there are 11 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 165 to Rs 2,000 per sq.ft. The median value of these streets is Rs 1,000 per sq.ft, placing Balaji Nagar's 2024 figure below this median.

• Ashok Nandhavanam Phase-III: Rs 1,100 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,485 per sq.ft (2024)
• Adeeswara Nagar: Rs 825 per sq.ft (2024)
• Meenachi Nagar: Rs 990 per sq.ft (2024)
• Nri Nest: Rs 1,100 per sq.ft (2024)
• Srinivasa Nagar: Rs 165 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees Rs 49,500. 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 that covers Balaji Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur-B

The guideline value is an important factor in property transactions in Korattur-B, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value will be used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process. This helps in avoiding any disputes related to property valuation at the time of registration.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no figures recorded for Balaji Nagar in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which is set at Rs 550 per sq.ft.

What are the guideline values of other streets in Korattur-B?

In Korattur-B, the guideline values for other streets range from Rs 165 to Rs 2,000 per sq.ft, with a median of Rs 1,000 per sq.ft. Balaji Nagar's value is below this median.

What fees are associated with buying property in Balaji Nagar?

When purchasing property in Balaji Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

Which office handles property registration for Balaji Nagar?

The Avadi Sub Registrar Office handles property registration for Balaji Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.