Guideline Value for Balaji Nagar 4th Street

Balaji Nagar 4th Street guideline value

The current guideline value of Balaji Nagar 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

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

Over the years, the guideline value of Balaji Nagar 4th Street has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 253 per sq.ft. This increased to Rs 284 per sq.ft in 2003, marking a rise of 12%. From 2003 to 2007, the value surged dramatically to Rs 1,200 per sq.ft, which is an increase of 323%. The value then adjusted to Rs 2,500 per sq.ft in 2012, reflecting a decrease of 33% from the previous revision. In 2017, the value rose again to Rs 1,675 per sq.ft, which was a 49% increase from the 2012 figure. The 2023 revision set the value at Rs 2,500 per sq.ft, before the latest increase to Rs 2,800 per sq.ft in 2024, which represents a 12% rise.

There are no figures available for the revisions in years not mentioned, confirming that the register has no figure for this street in those years.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the 2024 figure for Balaji Nagar 4th Street.

• Balaji Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 5th Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,800 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 rate, the guideline value is Rs 28,00,000. The stamp duty at 7% amounts to Rs 1,96,000, and the registration fee at 2% is Rs 56,000, totaling Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar 4th Street?

The Sub Registrar Office that covers Balaji Nagar 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Ullagaram, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings in the area.

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 2,800 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 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1007% over the years.

What are the stamp duty and registration fees for property in Balaji Nagar 4th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 2,52,000, which includes a stamp duty of Rs 1,96,000 and a registration fee of Rs 56,000.

Which Sub Registrar Office covers the area?

The Alandur Sub Registrar Office covers Balaji Nagar 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Balaji Nagar 4th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.