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 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 2nd Cross Street has changed

The guideline value for Balaji Nagar 2nd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 900 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 344%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, reflecting a decline of 33%. The most recent revision in 2024 shows the guideline value at Rs 4,400 per sq.ft, which is an increase of 64% from the 2017 figure.

It is important to note that there are no recorded 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 guideline value in this area is Rs 3,300 per sq.ft, placing Balaji Nagar 2nd Cross Street's 2024 figure above that median.

• Balaji Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 1st 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 2nd Cross Street

For a plot of 1,000 sq.ft at the current guideline value of Rs 4,400 per sq.ft, the total 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, resulting in a total of Rs 3,96,000. 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 2nd Cross Street?

The Sub Registrar Office that covers Balaji Nagar 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which property 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 value of the property. It is essential to be aware of the guideline value for accurate financial planning and compliance with legal requirements during the transaction.

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 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%.

What is the land classification for Balaji Nagar 2nd Cross Street?

Balaji Nagar 2nd Cross Street is classified as Residential Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Balaji Nagar 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 44,00,000 incurs a stamp duty of Rs 3,08,000 at 7%.