Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Thiruninravur-B village under the Avadi SRO, is Rs 770 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - III land classification.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft. Subsequently, in 2023, the value increased to Rs 700 per sq.ft, marking a significant rise of 49% from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft, with a median value of Rs 770 per sq.ft. Balaji Nagar's 2024 guideline value is equal to this median.

• Balaji Garden: Rs 770 per sq.ft (2024)
• Balaji Avenue: Rs 768 per sq.ft (2024)
• Balaji Nagar Extn: Rs 770 per sq.ft (2024)
• Bajanai Koil St: Rs 440 per sq.ft (2024)
• Balakrishnan Nagar & Streets: Rs 770 per sq.ft (2024)
• Balamurugan Nagar: Rs 1,175 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 amounts to 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, making the total charges Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and 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 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 Thiruninravur-B

The guideline value is a crucial factor during the registration of properties in Thiruninravur-B. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established rates.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official valuation set by the authorities.

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 much has the guideline value increased over the years?

Since the 2017 revision, the guideline value has increased by 64% overall, with a 49% increase from 2017 to 2023 and a further 10% increase from 2023 to 2024.

Which Sub Registrar Office covers Balaji Nagar?

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

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are calculated based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for the minimum value at which a property can be registered, ensuring transparency in the buying and selling process.