Guideline Value for Balaji Garden

Balaji Garden guideline value

The current guideline value of Balaji Garden, located in Pullilyon village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Garden has changed

The guideline value for Balaji Garden has seen significant changes over the years. In 2003, the value was Rs 56 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, the 2012 revision saw a rise to Rs 700 per sq.ft, but then in 2017, it decreased to Rs 469 per sq.ft. The value climbed again to Rs 700 per sq.ft in 2023, and most recently, it has risen to Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1275%. The register has no figure for this street in 2002.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, and Balaji Garden's 2024 figure is above this median.

• Balaji Garden Annex: Rs 770 per sq.ft (2024)
• Balaji Garden Annex 1: Rs 770 per sq.ft (2024)
• Balaji Garden Annexe - II: Rs 770 per sq.ft (2024)
• Bajanain Koil Street: Rs 550 per sq.ft (2024)
• Bhathrakaliamman Nagar: Rs 770 per sq.ft (2024)
• Anna Nagar: Rs 440 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 further calculations.

Which Sub Registrar Office covers Balaji Garden?

The Sub Registrar Office that covers Balaji Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Balaji Garden?

The current guideline value of Balaji Garden is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 56 per sq.ft to Rs 770 per sq.ft in 2024, marking a total increase of 1275% over the years.

What are the stamp duty and registration fees for property in Balaji Garden?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Balaji Garden?

The Redhills Sub Registrar Office covers Balaji Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Balaji Garden?

Balaji Garden is classified as Residential Class I Type - I, indicating its designation for residential use within the area.