Guideline Value for BALAJI PURAM

Balaji Puram guideline value

The current guideline value of Balaji Puram is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Perumattu Nellore village under the Chengleput Joint II SRO, with a land classification of Residential Special Type - II.

How the guideline value of Balaji Puram has changed

Over the years, the guideline value of Balaji Puram has experienced several revisions. In the 2007 revision, the value was set at Rs 175 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a 300% rise. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, representing a 33% drop. The 2023 revision maintained the value at Rs 700 per sq.ft, and the 2024 revision also kept it at Rs 700 per sq.ft, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%, reflecting significant changes over the years.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO carrying a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which is the same as the guideline value for Balaji Puram. Below are the guideline values for other streets in Perumattu Nellore:

• Balaji Avenue: Rs 500 per sq.ft (2024)
• Bhavathi Puram: Rs 500 per sq.ft (2024)
• Annai Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Anantha Viniyaga Nagar: Rs 700 per sq.ft (2024)
• Durga Nagar: Rs 700 per sq.ft (2024)
• A.K.S. Avenue: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Puram?

The Sub Registrar Office covering Balaji Puram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perumattu Nellore. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps determine the financial obligations associated with the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, impacting the overall cost of the property transfer.

Frequently asked questions

What is the current guideline value of Balaji Puram?

The current guideline value of Balaji Puram is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, followed by fluctuations in subsequent years. The value remained at Rs 700 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Perumattu Nellore?

The median guideline value for streets in Perumattu Nellore is Rs 700 per sq.ft, which is also the guideline value for Balaji Puram.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balaji Puram located?

The Sub Registrar Office for Balaji Puram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.