Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Aamoor village under the Ponneri SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will commence on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. However, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 200 per sq.ft, which remained unchanged in the 2024 revision, also at Rs 200 per sq.ft. This indicates that there has been no percentage change between the 2023 and 2024 revisions, which is +0%.

Overall, the consistent guideline value of Rs 200 per sq.ft since the 2023 revision reflects stability in this area. The median guideline value for other streets in Aamoor is also Rs 200 per sq.ft, placing Balaji Nagar at the median level among the streets in the village.

Guideline values in Aamoor

In Aamoor village, there are ten streets under the Ponneri SRO that carry a 2024 guideline value. These values range from Rs 175 to Rs 800 per sq.ft, with the median being Rs 200 per sq.ft. Balaji Nagar's 2024 guideline value aligns perfectly with this median. The following are the guideline values for other streets in Aamoor:

• Aadavan Nagar Extention: Rs 598 per sq.ft (2024)
• Kumarasamy Green Field: Rs 200 per sq.ft (2024)
• Manimegalai Nagar: Rs 200 per sq.ft (2024)
• Olive Avenue Phase -II: Rs 175 per sq.ft (2024)
• Olive Avenue Phase -III: Rs 175 per sq.ft (2024)
• Sakthi Sai Nagar: Rs 400 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, while the registration fee at 2% would be Rs 4,000. Therefore, the total cost for stamp duty and registration fee would be Rs 18,000. It is important to note that the 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Aamoor. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This value is essential for ensuring that the transaction is registered correctly and complies with local regulations.

Additionally, the guideline value serves as a benchmark for property transactions, helping to standardize the valuation process. Buyers and sellers should be aware of the current guideline value to ensure that they are paying the appropriate fees and that their property is valued accurately during registration.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 200 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

There have been several revisions, but the register has no figure for Balaji Nagar for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

What are the other streets in Aamoor with their guideline values?

In Aamoor, other streets have varying guideline values. For instance, Aadavan Nagar Extention is Rs 598 per sq.ft, while Kumarasamy Green Field and Manimegalai Nagar both have a guideline value of Rs 200 per sq.ft. Olive Avenue Phase -II and Phase -III have a guideline value of Rs 175 per sq.ft, and Sakthi Sai Nagar is valued at Rs 400 per sq.ft.

What is the stamp duty and registration fee for property in Balaji Nagar?

The stamp duty for a property valued at Rs 2,00,000 in Balaji Nagar would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value, which is used to calculate the applicable charges.

Which office handles property registrations for Balaji Nagar?

The Ponneri Sub Registrar Office handles property registrations for Balaji Nagar. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.