Guideline Value for Balaji Nagar 5th Cross Street

Balaji Nagar 5th Cross Street guideline value

The current guideline value of Balaji Nagar 5th Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Nagar 5th Cross Street has changed

Over the years, the guideline value of Balaji Nagar 5th Cross Street has seen significant changes. In 2002, the guideline value was Rs 253 per sq.ft, which increased to Rs 284 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,800 per sq.ft in the 2024 revision.

The changes between these revisions are noteworthy. From 2002 to 2024, the overall increase is 1007%. The most significant jump occurred from 2003 to 2007, with an increase of 323%. The increase from 2017 to 2023 was 49%, and from 2023 to 2024, there was a rise of 12%. The revisions for the years 2012 to 2017 saw a decrease of 33%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median value being Rs 2,800 per sq.ft. Balaji Nagar 5th Cross Street's 2024 guideline value is equal to this median.

• Balaji Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these charges Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar 5th Cross Street?

The Sub Registrar Office that covers Balaji Nagar 5th Cross 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 when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar 5th Cross Street?

The current guideline value of Balaji Nagar 5th Cross 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, increasing from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1007%.

What is the land classification for Balaji Nagar 5th Cross Street?

The land classification for Balaji Nagar 5th Cross Street is Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.