Guideline Value for Balaji Nagar 4th Street

Balaji Nagar 4th Street guideline value

The current guideline value of Balaji Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Balaji Nagar 4th Street has changed

The guideline value for Balaji Nagar 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,000 per sq.ft. In 2017, the value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that the 2024 figure for Balaji Nagar 4th Street is below that median.

• Balaji Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 4th Street?

The Sub Registrar Office that covers Balaji Nagar 4th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential aspect of property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Balaji Nagar 4th Street?

The current guideline value of Balaji Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Balaji Nagar 4th Street?

Balaji Nagar 4th Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Balaji Nagar 4th Street located?

The Sub Registrar Office for Balaji Nagar 4th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.