Guideline Value for Balagangadara Thilak Nagar

Balagangadara Thilak Nagar guideline value

The current guideline value of Balagangadara Thilak Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Arambakkam village under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Balagangadara Thilak Nagar has changed

The guideline value for Balagangadara Thilak Nagar has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 350 per sq.ft, which increased to Rs 600 per sq.ft in the 2012 revision. This represented a significant increase of 71%. However, in the 2017 revision, the value dropped to Rs 402 per sq.ft, marking a decrease of 33%. From 2017 to the 2023 revision, the value rose by 49%, bringing it back to Rs 600 per sq.ft, where it remained unchanged in the 2024 revision.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 71%.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which aligns with the guideline value of Balagangadara Thilak Nagar.

• Anna Theru: Rs 800 per sq.ft (2024)
• Angaline Garden: Rs 600 per sq.ft (2024)
• Cittirai Nagar: Rs 402 per sq.ft (2024)
• D.A. Colony: Rs 600 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 500 per sq.ft (2024)
• Dr. Radha Krishnan Extension: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Balagangadara Thilak Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balagangadara Thilak Nagar?

The Sub Registrar Office that covers Balagangadara Thilak Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balagangadara Thilak Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification of Balagangadara Thilak Nagar?

Balagangadara Thilak Nagar is classified as Residential Special Type - I.

Where can I find the registration office for Balagangadara Thilak Nagar?

The registration office for Balagangadara Thilak Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for property in Balagangadara Thilak Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 6,00,000, the stamp duty at 7% would be Rs 42,000, along with a registration fee of Rs 12,000 at 2%.