Guideline Value for BALAJI STREET

Balaji Street guideline value

The current guideline value of Balaji Street, located in Puliyur village under the Kodambakkam SRO, is Rs 6,300 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - III.

How the guideline value of Balaji Street has changed

The guideline value for Balaji Street has undergone several revisions over the years. In 2002, the value was Rs 628 per sq.ft, which increased to Rs 690 per sq.ft in 2003, marking a rise of 10%. The value saw a significant jump of 190% to Rs 2,000 per sq.ft in 2007. This was followed by another increase of 190% in 2012, bringing the value to Rs 5,800 per sq.ft. The register has no figure for this street in 2017. The most recent revision in 2023 maintained the value at Rs 5,800 per sq.ft, before it increased by 9% to Rs 6,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 903%. The steady growth over these years reflects the changing dynamics of property valuation in the area.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with a 2024 guideline value range from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Balaji Street's 2024 figure above this median.

• Balaji Avenue: Rs 5,800 per sq.ft (2024)
• Baroda 1st Street: Rs 7,100 per sq.ft (2024)
• Baroda 2nd Street: Rs 7,100 per sq.ft (2024)
• Baroda 3rd Street: Rs 7,100 per sq.ft (2024)
• Baroda 4th Street: Rs 7,100 per sq.ft (2024)
• Baroda 5th Street: Rs 7,100 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 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total fees together to Rs 5,67,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Street?

The Sub Registrar Office that covers Balaji Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buying or selling property, the guideline value will be used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value in the area.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 628 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 903% over this period.

What is the median guideline value for streets in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, with Balaji Street's current value above this median.

What are the stamp duty and registration fees for a property on Balaji Street?

For a 1,000 sq.ft property on Balaji Street, the total stamp duty and registration fees would be Rs 5,67,000, calculated based on the guideline value of Rs 63,00,000.

Which office handles registrations for Balaji Street?

The Kodambakkam Sub Registrar Office handles registrations for Balaji Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.