Guideline Value for Balaji Nagar 13th Street

Balaji Nagar 13th Street guideline value

The current guideline value of Balaji Nagar 13th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar 13th Street has changed

The guideline value for Balaji Nagar 13th Street has seen several revisions over the years. In 2002, the value was Rs 330 per sq.ft. This increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The value then experienced significant growth, reaching Rs 1,250 per sq.ft in 2007, which was a 232% increase. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 180% increase from the previous revision. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1082%. There are no figures available for the years not mentioned in this register for Balaji Nagar 13th Street.

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 current figure for Balaji Nagar 13th Street.

• Balaji Nagar 12th 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 11th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 10th 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 13th 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, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It's 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 more details.

Which Sub Registrar Office covers Balaji Nagar 13th Street?

The Sub Registrar Office that covers Balaji Nagar 13th 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 Adambakkam

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value may also influence negotiations during the sale process, as it serves as a benchmark for property valuations.

Frequently asked questions

What is the current guideline value of Balaji Nagar 13th Street?

The current guideline value of Balaji Nagar 13th 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, reflecting an overall increase of 1082% over this period.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Balaji Nagar 12th Street, Balaji Nagar 14th Street, Balaji Nagar 15th Street, Balaji Nagar 11th Street, Balaji Nagar 10th Street, and Balaji Nagar 1st Street.

What fees are associated with buying property in Balaji Nagar 13th Street?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Where can I find the Sub Registrar Office for Balaji Nagar 13th Street?

The Sub Registrar Office for Balaji Nagar 13th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.