Guideline Value for Balaji Nagar 5th Street

Balaji Nagar 5th Street guideline value

The current guideline value of Balaji Nagar 5th Street is Rs 3,900 per sq.ft. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

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. Starting from the 2002 revision, the value was Rs 330 per sq.ft, which increased to Rs 376 per sq.ft in 2003. The value saw significant growth, reaching Rs 1,250 per sq.ft in 2007, and further rising to Rs 3,500 per sq.ft in 2012. However, there was a decline to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,900 per sq.ft effective from 1 July 2024.

Between these revisions, the changes are notable. From 2002 to 2003, the increase was +14%. The value surged by +232% from 2003 to 2007. The 2007 to 2012 period saw a decrease of -33%. After that, the value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +1082%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Balaji Nagar 5th Street.

• Balaji Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. 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 that covers Balaji Nagar 5th 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 Adambakkam

The guideline value is a crucial factor during property transactions in Adambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable for the transaction. This ensures that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for the financial aspects of property transactions in the area.

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 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1082% over this period.

What is the land classification of Balaji Nagar 5th Street?

Balaji Nagar 5th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Balaji Nagar 5th Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Balaji Nagar 5th Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, and it covers Balaji Nagar 5th Street.