Guideline Value for Balaji Nagar 12th Street

Balaji Nagar 12th Street guideline value

The current guideline value of Balaji Nagar 12th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balaji Nagar 12th Street has changed

The guideline value for Balaji Nagar 12th Street has seen significant changes over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 330 per sq.ft. This figure increased to Rs 376 per sq.ft in 2003, marking a change of +14%. The value continued to rise, reaching Rs 1,250 per sq.ft in 2007, which was a substantial increase of +232%. However, from 2007 to 2012, the value decreased to Rs 3,500 per sq.ft, a drop of -33%. In 2017, the guideline value was revised to Rs 2,345 per sq.ft, reflecting a change of +49% from the previous figure. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, followed by the current value of Rs 3,900 per sq.ft in 2024, an increase of +11%.

There are no figures available for revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by +1082%.

Guideline values in Adambakkam

In Adambakkam, there are 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 value is Rs 3,900 per sq.ft, which is the same as the guideline value for Balaji Nagar 12th Street.

• Balaji Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 10th 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 12th Street

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Nagar 12th Street?

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

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

The guideline value is an essential factor in property transactions in Adambakkam. When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

It is crucial for buyers and sellers to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Balaji Nagar 12th Street?

The current guideline value of Balaji Nagar 12th 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 increased from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1082% over the years.

What is the land classification for Balaji Nagar 12th Street?

Balaji Nagar 12th Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Balaji Nagar 12th Street?

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

How is the stamp duty calculated for properties in Balaji Nagar 12th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,73,000.