Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Mylapur village under the Oothukkottai SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value for Balaji Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. However, this was followed by a significant increase to Rs 100 per sq.ft in the 2023 revision, which was maintained in the 2024 revision, reflecting a change of +49% from 2017 to 2023 and +0% from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 100 per sq.ft.

Guideline values in Mylapur

In Mylapur, there are 10 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft, with the median also at Rs 100 per sq.ft. Balaji Nagar's 2024 figure matches this median.

• Arunachala Nagar: Rs 100 per sq.ft (2024)
• Aalin Nagar: Rs 100 per sq.ft (2024)
• Jothi Nagar: Rs 100 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 100 per sq.ft (2024)
• Sri Vaari Nagar: Rs 100 per sq.ft (2024)
• Venkateswara Nagar: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total fees Rs 9,000. It is important to note that the 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?

Balaji Nagar falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses that need to be settled during the transaction. This helps in maintaining a standard procedure across all property registrations in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 100 per sq.ft in both 2023 and 2024. The value was Rs 67 per sq.ft in 2017 and Rs 100 per sq.ft in 2012.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Balaji Nagar?

Balaji Nagar is covered by the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.