Guideline Value for BalajI Nagar Ext. 1st Street

BalajI Nagar Ext. 1st Street guideline value

The current guideline value of BalajI Nagar Ext. 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of BalajI Nagar Ext. 1st Street has changed

The guideline value for BalajI Nagar Ext. 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then changed to Rs 1,675 per sq.ft in the 2017 revision. This was a decrease of 33%. Following that, the value increased to Rs 2,500 per sq.ft in the 2023 revision, and then to Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which aligns with the current guideline value of BalajI Nagar Ext. 1st Street.

• Balaji Nagar Extension: Rs 2,800 per sq.ft (2024)
• Balaji Nagar Extension 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in BalajI Nagar Ext. 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 information.

Which Sub Registrar Office covers BalajI Nagar Ext. 1st Street?

The Sub Registrar Office that covers BalajI Nagar Ext. 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value plays a critical role during property transactions in Ullagaram. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when registering a property. These costs are based on the guideline value or the sale price, whichever is higher.

When selling a property, the guideline value also ensures that the transaction is registered at a fair rate, providing transparency and consistency in property dealings. This helps in maintaining a standard practice across the region.

Frequently asked questions

What is the current guideline value of BalajI Nagar Ext. 1st Street?

The current guideline value of BalajI Nagar Ext. 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for BalajI Nagar Ext. 1st Street?

BalajI Nagar Ext. 1st Street is classified as Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value for streets in Ullagaram?

The median guideline value for streets in Ullagaram is Rs 2,800 per sq.ft, which is the same as the current guideline value for BalajI Nagar Ext. 1st Street.