Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Ikkadu village under the Tiruvallur Joint 1 SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Balaji Nagar has changed

Looking at the historical revisions, the guideline value for Balaji Nagar has seen several changes over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged until 2023. The 2017 revision recorded a decrease to Rs 335 per sq.ft, marking a 33% drop from the 2012 figure. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft.

The most recent revision in 2024 maintains the guideline value at Rs 500 per sq.ft, reflecting no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 1,400 per sq.ft. The median value across these streets is Rs 400 per sq.ft, positioning Balaji Nagar's 2024 figure above this median.

• ArunaChalam Street: Rs 300 per sq.ft (2024)
• Anna Nagar: Rs 500 per sq.ft (2024)
• Ambetkar street: Rs 500 per sq.ft (2024)
• Ambedkar Nagar: Rs 500 per sq.ft (2024)
• Amala Nagar: Rs 400 per sq.ft (2024)
• Elumalai Garden: Rs 626 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ikkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with Rs 500 per sq.ft in 2012, dropping to Rs 335 per sq.ft in 2017, then rising back to Rs 500 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Balaji Nagar?

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

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000.

Which office handles registrations for Balaji Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Balaji Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.