Guideline Value

Corporate

Guideline Value for Balaji Nagar 2nd Street

₹2750/sq.ft.

The guideline value for Balaji Nagar 2nd Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹300 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹188 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balaji Nagar 2nd Street

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Balaji Nagar 2nd Street guideline value

The current guideline value of Balaji Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

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

The guideline value for Balaji Nagar 2nd Street has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft. This increased to Rs 300 per sq.ft in 2003, marking a 60% rise. The value continued to rise to Rs 500 per sq.ft in 2007, which was a 67% increase. However, from 2007 to 2012, the value dropped to Rs 2,500 per sq.ft, reflecting a decrease of 400% from the previous revision.

In 2017, the value was revised to Rs 1,675 per sq.ft, showing an increase of 49% from 2012. The most recent revisions show that in 2023, the guideline value was Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in 2024, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1363%.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, positioning Balaji Nagar 2nd Street above this median.

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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total fees would be Rs 2,47,500. Please 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 information.

Which Sub Registrar Office covers Balaji Nagar 2nd Street?

The Sub Registrar Office that covers Balaji Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value, as the higher amount is used to calculate the applicable fees. This ensures that the transaction is documented accurately in accordance with the local regulations.

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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 188 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1363% over this period.

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

Balaji Nagar 2nd Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

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

The Virugambakkam Sub Registrar Office covers Balaji Nagar 2nd Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.