Guideline Value for Balaji Nagar 10th Street

Balaji Nagar 10th Street guideline value

The current guideline value of Balaji Nagar 10th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Nagar 10th Street has changed

The guideline value for Balaji Nagar 10th Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 253 per sq.ft. This increased to Rs 284 per sq.ft in 2003, marking a 12% increase. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, which was a substantial increase of 323%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a 108% increase from the previous revision. However, from 2017, it dropped to Rs 1,675 per sq.ft, showing a decrease of 33%.

In 2023, the guideline value was set at Rs 2,500 per sq.ft, and it saw an increase of 12% to reach the current value of Rs 2,800 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1007%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Balaji Nagar 10th Street.

• Balaji Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Avenue Layout: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar 10th Street?

The Sub Registrar Office that covers Balaji Nagar 10th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balaji Nagar 10th Street?

The current guideline value of Balaji Nagar 10th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1007% over this period.

What are the stamp duty and registration fees for property in Balaji Nagar 10th Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000 based on the current guideline value.

Which office handles property registrations for Balaji Nagar 10th Street?

The Alandur Sub Registrar Office handles property registrations for Balaji Nagar 10th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Balaji Nagar 10th Street?

The land classification for Balaji Nagar 10th Street is Residential Class II Type - I, indicating its designation for residential use.