Guideline Value for Balaji Nagar 14th Street

Balaji Nagar 14th Street guideline value

The current guideline value of Balaji Nagar 14th Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Balaji Nagar 14th Street has changed

The guideline value for Balaji Nagar 14th Street has seen significant revisions over the years. In 2003, the guideline value was Rs 221 per sq.ft, which increased to Rs 300 per sq.ft in 2007. The value then rose dramatically to Rs 1,407 per sq.ft in 2017, followed by an increase to Rs 2,099 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,350 per sq.ft, marking a 12% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 963%. The revisions for 2012 and 2002 do not have figures recorded for this street in the register.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Balaji Nagar 14th Street is above this median.

• Balaji Nagar 11th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 12th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 15th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 16th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 17th Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 14th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,350 per sq.ft, the guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, resulting in a total of Rs 2,11,500. 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 Nagar 14th Street?

The Sub Registrar Office that covers Balaji Nagar 14th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value of Balaji Nagar 14th Street?

The current guideline value of Balaji Nagar 14th Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 221 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, with various revisions in between.

What is the land classification for Balaji Nagar 14th Street?

Balaji Nagar 14th Street is classified as Residential Class III Type - I according to the land classification records.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 23,50,000 would incur a stamp duty of Rs 1,64,500 at 7%.