Guideline Value for BALAJI STREET

Balaji Street guideline value

The current guideline value of Balaji Street in Jelandianpettai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Balaji Street has changed

Over the years, the guideline value of Balaji Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision increased it to Rs 1,500 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

The changes between revisions show a significant increase from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, which is a 49% rise. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Balaji Street's 2024 guideline value below this median.

• Balavinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Bhagavathsingh Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street: Rs 2,200 per sq.ft (2024)
• Avvai Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Salai: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 2,200 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Street?

Balaji Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Jelandianpettai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure that they comply with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase overall during this period.

What is the land classification for Balaji Street?

Balaji Street is classified as Residential Class IV Type - I, indicating its zoning for residential purposes.

Where can I find the Sub Registrar Office for Balaji Street?

The Sub Registrar Office covering Balaji Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Balaji Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.