Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Koladi village under the Chennai South Joint II SRO, is Rs 880 per sq.ft as per the 2024 revision. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, it then decreased to Rs 536 per sq.ft in the 2017 revision. From 2017 to 2023, the value rose sharply by 49% to reach Rs 800 per sq.ft, and then further increased by 10% to the current rate of Rs 880 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 252%.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Balaji Nagar is below this median.

• Balaji Nagar 1,2,3 Main Road: Rs 880 per sq.ft (2024)
• Arul Nagar: Rs 880 per sq.ft (2024)
• Arjuna Medu Road: Rs 880 per sq.ft (2024)
• Arjuna Medu: Rs 880 per sq.ft (2024)
• Aravamuthu Street: Rs 660 per sq.ft (2024)
• Anna Street: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total of Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable duties and fees, ensuring that all transactions comply with the regulatory framework set by the state authorities.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 880 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 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What is the land classification for Balaji Nagar?

Balaji Nagar falls under the Residential Class II Type - II land classification.

Where can I find the registration office for Balaji Nagar?

The registration office for Balaji Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.