Guideline Value for Balaji Nagar 1st Street

Balaji Nagar 1st Street guideline value

The current guideline value of Balaji Nagar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - III.

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

The guideline value for Balaji Nagar 1st Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,700 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a 106% rise. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a 33% drop. The subsequent 2023 revision raised the value to Rs 3,500 per sq.ft, followed by another increase to Rs 3,900 per sq.ft in the 2024 revision, which is an 11% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 129%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the 2024 figure for Balaji Nagar 1st Street.

• Balaji Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Bakthavachalam Nagar South 3rd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South 2nd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South: Rs 2,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to 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, totaling Rs 3,51,000. It is important to note that 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 1st Street?

The Sub Registrar Office covering Balaji Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration fees and stamp duties are calculated based on this value.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, helping to maintain transparency in real estate dealings. It is essential for both parties to be aware of the current guideline value to avoid any issues during the registration process.

Frequently asked questions

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

The current guideline value of Balaji Nagar 1st 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 from Rs 1,700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

What is the land classification of Balaji Nagar 1st Street?

Balaji Nagar 1st Street is classified as Residential Class I Type - III under the Alandur SRO.

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

For a property with a guideline value of Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where can I find the Sub Registrar Office for Balaji Nagar 1st Street?

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