Guideline Value for BALAJI STREET

Balaji Street guideline value

The current guideline value of Balaji Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Balaji Street has changed

The guideline value for Balaji Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision further increased it to Rs 2,160 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, which is equal to the 2024 figure for Balaji Street.

• Balamurugan Street: Rs 2,160 per sq.ft (2024)
• Balasubramaniyam Street: Rs 2,750 per sq.ft (2024)
• Bashiyam Vathiyar Street: Rs 2,160 per sq.ft (2024)
• Balaji Avenue: Rs 2,200 per sq.ft (2024)
• Beriamman Koil Street: Rs 2,750 per sq.ft (2024)
• Beriamman Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total cost for these fees Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Street?

The Sub Registrar Office that covers Balaji Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Balaji Street?

Balaji Street is classified as Residential Class II Type - I according to the local regulations.

Where is the Sub Registrar Office for Balaji Street located?

The Sub Registrar Office for Balaji Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7% of the guideline value or sale price, whichever is applicable.