Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Balaji Nagar has changed

Since the 2002 revision, the guideline value of Balaji Nagar has seen significant changes. In 2002, the value was Rs 189 per sq.ft, which increased to Rs 215 per sq.ft in 2003. The next notable revision occurred in 2007, where the value jumped to Rs 350 per sq.ft, marking a 63% increase. By 2012, the value rose to Rs 1,500 per sq.ft, reflecting a substantial increase of 329%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The guideline value then increased to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,600 per sq.ft in 2024, which is a 7% rise.

Overall, from 2002 to 2024, the guideline value for Balaji Nagar has increased by 747%. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the guideline value of Balaji Nagar.

• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Barath Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Brinadavan Nagar Extension: Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ernavur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees, which are mandatory during the property transfer process.

When purchasing property, it is essential to consider the guideline value, as it may affect the overall cost of the transaction. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 189 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 747% over this period.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - II, which indicates its designation for residential purposes.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.