Guideline Value for BALAJI NAGAR

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Kakkalur village, is Rs 626 per sq.ft, effective from 1 July 2024. This area falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

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 625 per sq.ft, which then decreased to Rs 419 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 626 per sq.ft in the 2023 revision. The 2024 revision maintained this value with no change, reflecting a stable guideline value over the last two years.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing an increase of 0% during this period.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value in this area is Rs 626 per sq.ft, which is equal to the current value of Balaji Nagar.

• Balaji Garden: Rs 626 per sq.ft (2024)
• Bhagyam New Town: Rs 626 per sq.ft (2024)
• Bharathi Nagar: Rs 626 per sq.ft (2024)
• Bharathyar Street: Rs 626 per sq.ft (2024)
• Appasami Street: Rs 1,000 per sq.ft (2024)
• Appasami Sami Salai/ Road: 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 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty is charged at 7%, which would be Rs 43,820, while the registration fee at 2% amounts to Rs 12,520. Therefore, the total cost for stamp duty and registration fee would be Rs 56,340. 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 further assistance.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Kakkalur. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately for legal purposes.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Balaji Nagar has remained stable at Rs 626 per sq.ft from 2023 to 2024, after increasing from Rs 419 per sq.ft in 2017. The value was Rs 625 per sq.ft in 2012, showing no overall change from 2012 to 2024.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - III, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 43,820 and the registration fee is Rs 12,520, making a total of Rs 56,340. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Balaji Nagar located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. This office handles registrations for properties in Balaji Nagar.