Guideline Value for Balaji Nagar 5th Street

Balaji Nagar 5th Street guideline value

The current guideline value of Balaji Nagar 5th Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class III Type - I.

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

The guideline value for Balaji Nagar 5th Street has undergone several revisions over the years. The earliest recorded value was Rs 221 per sq.ft in 2003, which increased to Rs 300 per sq.ft in 2007, marking a 36% rise. By 2017, the value saw a significant jump to Rs 1,407 per sq.ft, representing a 369% increase from the 2007 figure. The 2023 revision set the value at Rs 2,099 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has set the value at Rs 2,350 per sq.ft, reflecting a 12% increase from the previous year.

It is important to note that there are no recorded figures for Balaji Nagar 5th Street in the revisions for the years 2002 and 2012. Overall, from 2003 to 2024, the guideline value has increased by 963%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, making the 2024 figure for Balaji Nagar 5th Street above this median.

• Balaji Nagar 4th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 4th Main Road: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 3th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 3rd Main Road: Rs 2,350 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty, charged at 7%, would be Rs 1,64,500, while the registration fee at 2% would be Rs 47,000, bringing the total fees to Rs 2,11,500. 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 5th Street?

The Sub Registrar Office covering Balaji Nagar 5th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Anakaputhur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid complications during registration.

Frequently asked questions

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

The current guideline value of Balaji Nagar 5th Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases from Rs 221 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, with various revisions in between showing substantial growth.

What is the median guideline value for streets in Anakaputhur?

The median guideline value for streets in Anakaputhur is Rs 1,980 per sq.ft, with Balaji Nagar 5th Street's 2024 figure being above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar 5th Street?

The Sub Registrar Office for Balaji Nagar 5th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.