Guideline Value for Balaji Nagar 11th Street

Balaji Nagar 11th Street guideline value

The current guideline value of Balaji Nagar 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balaji Nagar 11th Street has changed

Since the year 2002, the guideline value for Balaji Nagar 11th Street has seen significant changes. In 2002, the guideline value was Rs 330 per sq.ft. This increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The value then surged to Rs 1,250 per sq.ft in 2007, which was a substantial increase of 232%. Following this, the value decreased to Rs 3,500 per sq.ft in 2012, reflecting a decline of 33%. The guideline value remained the same in 2012 and 2023 at Rs 3,500 per sq.ft, before rising to Rs 3,900 per sq.ft in 2024, an increase of 11%.

From 2017 to 2023, the value rose from Rs 2,345 per sq.ft to Rs 3,500 per sq.ft, which is a 49% increase. Overall, from 2002 to 2024, the guideline value has increased by 1082%. The register has no figures for the years in between these revisions.

Guideline values in Adambakkam

In Adambakkam, there are a total of 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 3,900 per sq.ft, which is equal to the current value of Balaji Nagar 11th Street.

• Balaji Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balaji Nagar 11th Street?

The Sub Registrar Office that covers Balaji Nagar 11th 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately, and the appropriate fees are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Balaji Nagar 11th Street?

The current guideline value for Balaji Nagar 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1082% over this period.

What is the registration office for Balaji Nagar 11th Street?

The registration office for Balaji Nagar 11th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.

What is the land classification for Balaji Nagar 11th Street?

The land classification for Balaji Nagar 11th Street is Residential Class I Type - III, indicating its suitability for residential development.