Guideline Value for Balaji Nagar 1st Street

Balaji Nagar 1st Street guideline value

The current guideline value of Balaji Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

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. The oldest recorded revision is from 2007, where the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of +344%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a -33% change. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase of +64% from the 2017 figure.

The register does not have figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by +389%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, positioning Balaji Nagar 1st Street's 2024 figure above this median.

• Balaji Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 4th Cross Street: Rs 4,400 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, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. It is important to note that the stamp duty is charged on the higher of the guideline value and 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 that covers Balaji Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is considered to ensure that the transaction is in line with government regulations.

At the time of registration, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps maintain transparency in property transactions and ensures that all parties are aware of the costs involved.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +389% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur that share the same guideline value of Rs 4,400 per sq.ft in 2024 include Balaji Nagar 1st Cross Street, Balaji Nagar 2nd Cross Street, Balaji Nagar 2nd Street, Balaji Nagar 3rd Cross Street, Balaji Nagar 3rd Street, and Balaji Nagar 4th Cross Street.

What is the registration fee for property in Balaji Nagar 1st Street?

The registration fee for property in Balaji Nagar 1st Street is 2% of the guideline value. For a property valued at Rs 44,00,000, this would amount to Rs 88,000.

Where is the Sub Registrar Office for Balaji Nagar 1st Street located?

The Sub Registrar Office for Balaji Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.