Guideline Value for Balaji Nagar 2nd Street

Balaji Nagar 2nd Street guideline value

The current guideline value of Balaji Nagar 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

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

The guideline value for Balaji Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 330 per sq.ft, which increased to Rs 474 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,250 per sq.ft in 2007, and it further increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and has now reached Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1082%. The revisions for the years 2012 to 2017 showed a decrease of 33%, while the increase from 2017 to 2023 was 49%. The register has no figure for the years not mentioned in this summary.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for Balaji Nagar 2nd Street.

• Balaji Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to 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 2nd Street?

The Sub Registrar Office that covers Balaji Nagar 2nd 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 Adambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are paid. This value helps maintain transparency in property transactions and ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Balaji Nagar 2nd 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 significantly from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1082% over this period.

What are the stamp duty and registration fees for property in Balaji Nagar 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 3,51,000.

Which office handles registrations for Balaji Nagar 2nd Street?

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

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

Balaji Nagar 2nd Street is classified as Residential Class I Type - III, indicating its designation for residential purposes within the area.