Guideline Value for Balaji Nagar 1st Cross Street

Balaji Nagar 1st Cross Street guideline value

The current guideline value of Balaji Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Balaji Nagar 1st Cross Street has changed

The guideline value for Balaji Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure was Rs 253 per sq.ft in 2002, which increased to Rs 284 per sq.ft in 2003, marking a 12% rise. Following this, the value surged dramatically to Rs 1,200 per sq.ft in 2007, reflecting a significant increase of 323%.

In 2012, the guideline value was revised to Rs 2,500 per sq.ft, which represented a decrease of 33%. This was followed by another increase to Rs 1,675 per sq.ft in 2017, a 49% rise. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and the current guideline value for 2024 is Rs 2,800 per sq.ft, showing a 12% increase from the previous year.

Guideline values in Ullagaram

In Ullagaram, there are a total of 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is the same as the guideline value for Balaji Nagar 1st Cross Street.

• Balaji Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 1st Cross Street?

The Sub Registrar Office that covers Balaji Nagar 1st Cross 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 details.

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

The guideline value is a critical component during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the financial obligations associated with the transaction, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Balaji Nagar 1st Cross Street?

The current guideline value of Balaji Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 253 per sq.ft in 2002 to the current value of Rs 2,800 per sq.ft in 2024, marking an overall increase of 1007%.

What are the stamp duty and registration fees for property transactions in Balaji Nagar 1st Cross Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for Balaji Nagar 1st Cross Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, covers Balaji Nagar 1st Cross Street.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of properties, which influences the calculation of stamp duty and registration fees during property transactions.