Guideline Value for Balaji Garden

Balaji Garden guideline value

The current guideline value of Balaji Garden, located in Manimangalam A village under the Padappai SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Garden has changed

Over the years, the guideline value for Balaji Garden has seen several revisions. The 2017 revision set the value at Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 880 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the increase in guideline value amounts to 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The significant changes in the guideline value reflect the adjustments made over the years, with a notable 49% increase from 2017 to 2023.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the current value of Balaji Garden.

• Balaji Avenue: Rs 1,430 per sq.ft (2024)
• Asirvadhapuram: Rs 880 per sq.ft (2024)
• Bharath Avenue: Rs 880 per sq.ft (2024)
• Bharath Avenue Phase I: Rs 880 per sq.ft (2024)
• Arunachaleswarar Nagar: Rs 880 per sq.ft (2024)
• Bharathi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty is charged at 7%, amounting to Rs 61,600, while the registration fee is charged at 2%, totaling Rs 17,600. Together, the fees amount to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Garden?

The Balaji Garden area falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications associated with the property transaction.

Frequently asked questions

What is the current guideline value of Balaji Garden?

The current guideline value of Balaji Garden is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024.

What is the stamp duty rate for properties in Balaji Garden?

The stamp duty for properties in Balaji Garden is charged at 7% of the guideline value or the sale price, whichever is higher.

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 the guideline value determined for properties in Manimangalam A?

The guideline value is determined based on various factors, including land classification and median values of properties in the area. It serves as a reference point for property transactions in Manimangalam A.