Guideline Value for Balaji Nagar 15th Street

Balaji Nagar 15th Street guideline value

The current guideline value of Balaji Nagar 15th 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 it falls under the Residential Class I Type - III land classification.

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

The guideline value for Balaji Nagar 15th Street has seen several revisions over the years. In 2002, the guideline value was Rs 330 per sq.ft, which increased to Rs 376 per sq.ft in 2003, marking a 14% rise. Following this, in 2007, the value jumped significantly to Rs 1,250 per sq.ft, reflecting a 232% increase. The 2012 revision brought the value down to Rs 3,500 per sq.ft, a decrease of 33% from the previous figure.

In 2017, the guideline value was revised to Rs 2,345 per sq.ft, which was a 49% increase from 2012. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, and the current guideline value for 2024 is Rs 3,900 per sq.ft, representing an 11% increase from the previous year. There are no figures available for the revisions in years not mentioned.

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 guideline value for the area is Rs 3,900 per sq.ft, which is equal to the current value of Balaji Nagar 15th Street.

• Balaji Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 12th 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 15th 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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making a total of Rs 3,51,000. 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 15th Street?

The Sub Registrar Office that covers Balaji Nagar 15th 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 the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the government receives the 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 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1082% over the years.

What is the land classification for Balaji Nagar 15th Street?

Balaji Nagar 15th Street is classified as Residential Class I Type - III, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for Balaji Nagar 15th Street?

The Sub Registrar Office for Balaji Nagar 15th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is 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, if the guideline value is Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.