Guideline Value for Balaji Nagar 1st Street - Sabari Street

Balaji Nagar 1st Street - Sabari Street guideline value

The current guideline value of Balaji Nagar 1st Street - Sabari Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

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

Over the years, the guideline value for Balaji Nagar 1st Street - Sabari Street has seen several revisions. The 2007 revision set the value at Rs 650 per sq.ft, which then increased significantly to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. The most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2007 revision to the 2012 revision, there was a substantial increase of 362%. Overall, from 2007 to 2024, the guideline value has increased by 408%. It is important to note that the revisions for the years 2002, 2003, and 2017 do not have any figures recorded for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Balaji Nagar 1st Street - Sabari Street is below this median.

• Balaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar Anex: Rs 3,300 per sq.ft (2024)
• Balaji Street: Rs 3,300 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Seran Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Park View Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Park Street: Rs 4,950 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Balaji Nagar 1st Street - Sabari Street?

The Sub Registrar Office that covers Balaji Nagar 1st Street - Sabari Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded accurately and fairly.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

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

The current guideline value of Balaji Nagar 1st Street - Sabari Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 408% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, is responsible for this area.

What is the land classification for Balaji Nagar 1st Street - Sabari Street?

The land classification for Balaji Nagar 1st Street - Sabari Street is Residential Class II Type - II, indicating its suitability for residential purposes.