Guideline Value for BALAN NAGAR

Balan Nagar guideline value

The current guideline value of Balan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam Sub Registrar Office (SRO), classified as Residential Class III Type - III.

How the guideline value of Balan Nagar has changed

The guideline value for Balan Nagar has seen significant changes over the years. In 2002, the value was Rs 69 per sq.ft, which increased to Rs 250 per sq.ft in 2007. Following this, the value surged to Rs 1,500 per sq.ft in 2012, but then dropped to Rs 1,005 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

It is important to note that there is no figure available for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 2,219%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Balan Nagar's 2024 figure below this median.

• Balavinayagar Nagar Extention: Rs 2,010 per sq.ft (2024)
• Balavingayar Koil Street: Rs 1,600 per sq.ft (2024)
• BALAVINGAYAR NAGAR (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Baliamman Street: Rs 1,300 per sq.ft (2024)
• Barani Jothi Nagar: Rs 2,900 per sq.ft (2024)
• Balaji Nagar Near Railway Track 1,2,3 Streets: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balan Nagar?

Balan Nagar falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property in Korattur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This value serves as a benchmark for the transaction, and the fees are calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Balan Nagar?

The current guideline value of Balan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 69 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 2,219%.

What are the stamp duty and registration fees for Balan Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registration in Balan Nagar?

The Villivakkam Sub Registrar Office handles property registration for Balan Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where can I find more information about guideline values in Korattur?

For more information on guideline values in Korattur, you can refer to the Registration Department's guideline value register (TNReginet).