Guideline Value for Balaji Apartments

Balaji Apartments guideline value

The current guideline value of Balaji Apartments in Perungalathur village is Rs 2,310 per sq.ft, effective from 1 July 2024. This property falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Balaji Apartments has changed

The guideline value for Balaji Apartments has seen several revisions over the years. In 2012, the value was Rs 2,100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,407 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,100 per sq.ft in 2023, followed by the latest revision in 2024, where it rose to Rs 2,310 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is equal to the current value of Balaji Apartments.

• Balaji Nagar: Rs 2,310 per sq.ft (2024)
• Bakthavachalam Street: Rs 2,310 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,650 per sq.ft (2024)
• Azagiri Nagar: Rs 2,640 per sq.ft (2024)
• Avvai Street: Rs 1,980 per sq.ft (2024)
• Bavani Emarald: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, making the total fees Rs 2,07,900. 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 details.

Which Sub Registrar Office covers Balaji Apartments?

The Balaji Apartments are covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the correct fees are paid. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balaji Apartments?

The current guideline value of Balaji Apartments is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then back to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Balaji Apartments?

Balaji Apartments is classified as Residential Class II Type - I under the Padappai SRO.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Balaji Apartments?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 at a rate of 7%.