Guideline Value for Balaji Colony : -

Balaji Colony : - guideline value

The current guideline value for Balaji Colony : - is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Balaji Colony : - has changed

The guideline value for Balaji Colony has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 179 per sq.ft. This increased to Rs 201 per sq.ft in 2003, marking a 12% rise. Following this, the value saw a significant jump to Rs 1,500 per sq.ft in 2007, which is a 646% increase. In 2012, the guideline value adjusted to Rs 3,500 per sq.ft, reflecting a 133% increase. However, it then decreased to Rs 2,345 per sq.ft in 2017, which is a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,850 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2051%. There are no records of revisions for the years not mentioned in this register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Balaji Colony : - is below this median.

• Balaji Colony 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 1st Main Road: Rs 3,850 per sq.ft (2024)
• Balaji Colony 1st Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Colony : -

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, charged at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balaji Colony : -?

The Sub Registrar Office that covers Balaji Colony : - is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Balaji Colony : -?

The current guideline value for Balaji Colony : - is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 179 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 2051%.

What is the land classification for Balaji Colony : -?

Balaji Colony : - is classified as Residential Class II Type - III.

What are the other streets in Balaji Colony?

Other streets in Balaji Colony include the 1st Cross Street, 1st Main Road, 1st Street, 2nd Cross Street, 2nd Street, and 3rd Cross Street, all with a guideline value of Rs 3,850 per sq.ft for 2024.

Where is the Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.