Guideline Value for Balaji Nagar 18th Street

Balaji Nagar 18th Street guideline value

The current guideline value of Balaji Nagar 18th 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 18th Street has changed

The guideline value for Balaji Nagar 18th Street has seen significant changes 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 2017 revision marked a substantial rise to Rs 1,407 per sq.ft, followed by an increase to Rs 2,099 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,350 per sq.ft, reflecting a 12% increase from the previous year.

Over the years, the changes in guideline value have been notable. From 2003 to 2007, there was a 36% increase; from 2007 to 2017, the value surged by 369%. The increase from 2017 to 2023 was 49%, and overall, from 2003 to 2024, the guideline value has increased by 963%. The register does not contain figures for the years 2002 and 2012.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Balaji Nagar 18th Street's 2024 figure above this median.

• Balaji Nagar 17th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 19th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 16th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 15th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 1st Main Road: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 14th Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 18th 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 fees to 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 18th Street?

The Sub Registrar Office covering Balaji Nagar 18th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 in the registration process when buying or selling property in Anakaputhur. 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 to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the government collects the appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Balaji Nagar 18th Street?

The current guideline value of Balaji Nagar 18th Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 221 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, representing an overall increase of 963%.

What is the registration office for Balaji Nagar 18th Street?

The registration office for Balaji Nagar 18th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,64,500, and the registration fee would be Rs 47,000, totaling Rs 2,11,500.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher amount is used for calculating the applicable duties.