Guideline Value for BALU GARDEN -II

Balu Garden -II guideline value

The current guideline value of Balu Garden -II is Rs 750 per sq.ft, effective from 1 July 2024. This property is located in Kizhottivakkam village, under the Walajabad SRO, and is classified as Residential Special Type - I.

How the guideline value of Balu Garden -II has changed

The guideline value for Balu Garden -II has undergone several revisions over the years. The most recent revision in 2024 maintains the value at Rs 750 per sq.ft, which was also the case in the previous revision in 2023. In contrast, the 2017 revision recorded a lower value of Rs 502 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 750 per sq.ft, indicating a decrease of 33% from the 2012 figure to the 2017 figure.

Notably, the guideline values for the years 2002, 2003, and 2007 are not available in the register for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 750 per sq.ft.

Guideline values in Kizhottivakkam

Kizhottivakkam has 12 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 750 per sq.ft, with a median value of Rs 510 per sq.ft. Balu Garden -II's current guideline value is above this median.

• Anna nagar: Rs 200 per sq.ft (2024)
• Anchor S Aishwaryam Avenue: Rs 350 per sq.ft (2024)
• Jayam Nagar: Rs 750 per sq.ft (2024)
• Ram Balaji Nagar: Rs 520 per sq.ft (2024)
• Sai Nagar: Rs 350 per sq.ft (2024)
• S.D.Garden: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Garden -II

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty, charged at 7%, would be Rs 52,500, while the registration fee, set at 2%, would be Rs 15,000. Together, these fees total Rs 67,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balu Garden -II?

Balu Garden -II is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Kizhottivakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This ensures that the fees are calculated based on a standardized value set by the authorities.

When engaging in a property transaction, it is essential to refer to the current guideline value to understand the financial implications. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Balu Garden -II?

The current guideline value of Balu Garden -II is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft from 2012 to 2024, with a significant increase from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023.

What are the other streets in Kizhottivakkam with their guideline values?

Other streets in Kizhottivakkam include Anna nagar at Rs 200, Anchor S Aishwaryam Avenue at Rs 350, Jayam Nagar at Rs 750, Ram Balaji Nagar at Rs 520, Sai Nagar at Rs 350, and S.D.Garden at Rs 750 per sq.ft for 2024.

What fees are associated with buying property in Balu Garden -II?

When buying property in Balu Garden -II, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balu Garden -II?

The Sub Registrar Office covering Balu Garden -II is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.