Guideline Value for Balaji Nagar 15th Street

Balaji Nagar 15th Street guideline value

The current guideline value of Balaji Nagar 15th Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Residential Class III Type - I.

How the guideline value of Balaji Nagar 15th Street has changed

Over the years, the guideline value of Balaji Nagar 15th Street has seen significant changes. The 2003 revision recorded a value of Rs 221 per sq.ft, which increased to Rs 425 per sq.ft in 2007. This was a notable rise of 92%. The value further surged to Rs 1,407 per sq.ft in 2017, marking a substantial increase of 231%. The following revision in 2023 set the value at Rs 2,099 per sq.ft, reflecting a 49% rise from the previous figure. The latest revision in 2024 has established the current guideline value at Rs 2,350 per sq.ft, which is a 12% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street.

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 of Balaji Nagar 15th Street is above this median.

• Balaji Nagar 14th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 16th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 17th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 12th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 18th Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 15th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total 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, bringing the total to Rs 2,11,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balaji Nagar 15th Street?

The Sub Registrar Office that covers Balaji Nagar 15th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar 15th Street?

The current guideline value of Balaji Nagar 15th 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 increased from Rs 221 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, reflecting an overall increase of 963% over the years.

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 a property valued at Rs 23,50,000, the total stamp duty and registration fees would amount to Rs 2,11,500.

Which office handles property registrations in Balaji Nagar 15th Street?

The Pammal Sub Registrar Office handles property registrations for Balaji Nagar 15th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees, ensuring transparency in property transactions.