Guideline Value for Balaji Nagar 2nd Street

Balaji Nagar 2nd Street guideline value

The current guideline value of Balaji Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO, 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 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, showing a substantial increase of 49% since the last revision.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, positioning Balaji Nagar 2nd Street's 2024 value below this median.

• Balaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar: Rs 3,300 per sq.ft (2024)
• Bakthavachalam Lane: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Ayyappa Nagar Ist Street: Rs 4,900 per sq.ft (2024)
• Ayyappa Nagar 6th Street: Rs 4,900 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 2nd Street?

The Sub Registrar Office that covers Balaji Nagar 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Koyakbedu, as it determines the minimum value at which properties can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and legally.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives a fair amount of revenue from property transactions, reflecting the value of the property being transferred.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Balaji Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar 2nd Street?

The Sub Registrar Office covering Balaji Nagar 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft, which is higher than the current value of Balaji Nagar 2nd Street.