Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 805 per sq.ft, effective from 1 July 2024. This locality is situated in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Balaji Nagar has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, which recorded a value of Rs 469 per sq.ft. However, from 2017 to 2023, the value increased significantly by 72%, stabilizing at Rs 805 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 15%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this village is Rs 870 per sq.ft, placing Balaji Nagar's 2024 figure below this median.

• Balaji Nagar Extn.: Rs 806 per sq.ft (2024)
• Bajanai Koil Street(Kannada palayam): Rs 807 per sq.ft (2024)
• Ashok Nagar Main Road: Rs 880 per sq.ft (2024)
• Ashok Nagar Extn: Rs 990 per sq.ft (2024)
• Ashok Nagar: Rs 880 per sq.ft (2024)
• Bharathi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, bringing the total fees to Rs 72,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kovilpathagai. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions. The guideline value is determined by the government and is periodically revised to reflect changes in the real estate market.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty and registration fees will be calculated based on the guideline value, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Balaji Nagar?

The Sub Registrar Office for Balaji Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,05,000 would incur a stamp duty of Rs 56,350 at a rate of 7%.