Guideline Value for Balaji Nagar 2nd Cross Street

Balaji Nagar 2nd Cross Street guideline value

The current guideline value of Balaji Nagar 2nd 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 is classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar 2nd Cross Street has changed

The guideline value for Balaji Nagar 2nd Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 253 per sq.ft, which increased to Rs 284 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%. The period from 2012 to 2017 saw a decrease of 33%, while from 2007 to 2012, there was an increase of 108%. The increase from 2003 to 2007 was substantial at 323%, and from 2002 to 2003, the change was 12%. Overall, from 2002 to 2024, the guideline value has increased by 1007%.

Guideline values in Ullagaram

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

• Balaji Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 2nd 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, bringing the total fees together to 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar 2nd Cross Street?

The Sub Registrar Office that covers Balaji Nagar 2nd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Balaji Nagar 2nd Cross Street?

The current guideline value of Balaji Nagar 2nd 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 changed from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 1007% over this period.

What is the median guideline value in Ullagaram?

The median guideline value in Ullagaram is Rs 2,800 per sq.ft, which is the same as the current guideline value for Balaji Nagar 2nd Cross Street.

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

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 office handles the registration for Balaji Nagar 2nd Cross Street?

The Alandur Sub Registrar Office handles the registration for Balaji Nagar 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.