Guideline Value for BALJI PALAYAM

Balji Palayam guideline value

The current guideline value of Balji Palayam is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is located in Chinnasekkadu village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balji Palayam has changed

Since the 2002 revision, the guideline value for Balji Palayam has seen significant changes. In 2002, the value was Rs 68 per sq.ft, which increased to Rs 78 per sq.ft in 2003, marking a change of +15%. The value then rose to Rs 200 per sq.ft in 2007, reflecting an increase of +156%. By 2012, the guideline value was Rs 600 per sq.ft, showing a substantial rise of +200%. However, it fell to Rs 402 per sq.ft in 2017, a decrease of -33%. The value then climbed to Rs 1,000 per sq.ft in 2023, and has remained stable at Rs 1,001 per sq.ft in the 2024 revision, indicating no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1372%. There are no figures available for the years not listed in the register for this street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Balji Palayam is below this median.

• Bharathi Dasan Street: Rs 1,001 per sq.ft (2024)
• A.V.P. Aasaithambi Street: Rs 1,001 per sq.ft (2024)
• Asiriyar Thangaraj Street: Rs 1,300 per sq.ft (2024)
• Chandramman Koil Street: Rs 1,300 per sq.ft (2024)
• Chandran Street: Rs 1,300 per sq.ft (2024)
• Chinna Kannu Street / Chinna Kannu Naickan Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Balji Palayam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost to Rs 90,090. 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 Balji Palayam?

The Sub Registrar Office that covers Balji Palayam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chinnasekkadu. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the state receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the official value of the property for legal purposes. Buyers and sellers must consider this value to ensure compliance with registration requirements and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Balji Palayam?

The current guideline value of Balji Palayam is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 68 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting a total increase of +1372% over the years.

What is the land classification of Balji Palayam?

Balji Palayam is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Balji Palayam?

The Sub Registrar Office for Balji Palayam is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for property in Balji Palayam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070 at a rate of 7%.