Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar has changed

Since the 2017 revision, the guideline value for Balaji Nagar has seen significant changes. In 2017, the value was Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 330 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 from 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, and Balaji Nagar's 2024 figure aligns with this median.

• Balamurugan Nagar: Rs 330 per sq.ft (2024)
• Athipattu New Town: Rs 330 per sq.ft (2024)
• Athipattu Colony: Rs 330 per sq.ft (2024)
• Ashoka Puram: Rs 330 per sq.ft (2024)
• Arokiya Nagar: Rs 330 per sq.ft (2024)
• Bharati Street: Rs 330 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total cost for these fees Rs 29,700. Please note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Athipattu. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the authorities.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two is used to determine the applicable stamp duty and registration fees, which must be paid during the registration process at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 201 per sq.ft to Rs 330 per sq.ft in 2024, representing an overall increase of 64%.

What was the guideline value in 2023?

In 2023, the guideline value for Balaji Nagar was Rs 300 per sq.ft, which was a 49% increase from the 2017 figure.

Which office handles property registrations in Balaji Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Balaji Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty for properties in Balaji Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 29,700 for stamp duty and registration.