Guideline Value for Balaji Nagar 2nd Main Road

Balaji Nagar 2nd Main Road guideline value

The current guideline value of Balaji Nagar 2nd Main Road is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Balaji Nagar 2nd Main Road has changed

Over the years, the guideline value for Balaji Nagar 2nd Main Road has seen significant changes. In 2003, the guideline value was Rs 221 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This marked a 36% rise. The value then surged to Rs 1,407 per sq.ft in 2017, reflecting a remarkable 369% increase from the previous revision. In 2023, the guideline value reached Rs 2,099 per sq.ft, showing a 49% increase from 2017. The most recent revision in 2024 has set the value at Rs 2,350 per sq.ft, which is a 12% increase from 2023.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by an impressive 963%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Balaji Nagar 2nd Main Road's 2024 figure above this median.

• Balaji Nagar 1th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 2th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 30 feet Road: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 1st Main Road: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 3rd Main Road: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 19th Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty, charged at 7%, would be Rs 1,64,500, and the registration fee, charged at 2%, would be Rs 47,000. Together, the total costs for stamp duty and registration fee would be Rs 2,11,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 2nd Main Road?

The Sub Registrar Office that covers Balaji Nagar 2nd Main Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must adhere to the guideline value to avoid discrepancies during the registration process. This value is essential for both parties to ensure a smooth transaction and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar 2nd Main Road?

The current guideline value of Balaji Nagar 2nd Main Road is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 221 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, marking an overall increase of 963% over this period.

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

Other streets in Anakaputhur that share the same guideline value of Rs 2,350 per sq.ft include Balaji Nagar 1th Street, Balaji Nagar 2th Street, Balaji Nagar 30 feet Road, Balaji Nagar 1st Main Road, Balaji Nagar 3rd Main Road, and Balaji Nagar 19th Street.

Where is the Sub Registrar Office located for Balaji Nagar 2nd Main Road?

The Sub Registrar Office for Balaji Nagar 2nd Main Road is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable based on the same criteria.