Guideline Value

Corporate

Guideline Value for Balaji Nagar 5th Street

₹2750/sq.ft.

The guideline value for Balaji Nagar 5th Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹300 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹188 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balaji Nagar 5th Street

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Balaji Nagar 5th Street guideline value

The current guideline value of Balaji Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

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

Over the years, the guideline value of Balaji Nagar 5th Street has seen significant changes. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking a 60% rise. By 2007, the value further escalated to Rs 500 per sq.ft, representing a 67% increase. The value then surged dramatically to Rs 2,500 per sq.ft in 2012, showing a 400% rise. However, from 2012 to 2017, the guideline value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,750 per sq.ft in 2024, which is a 10% increase.

The overall change from 2002 to 2024 is a remarkable increase of 1,363%. There are no figures available for the revisions in the years not listed.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Balaji Nagar 5th Street's 2024 guideline value above that median.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 Street?

The Sub Registrar Office that covers Balaji Nagar 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value is set by the government and is revised periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, and it helps in maintaining transparency in the real estate market.

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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 188 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,363% over this period.

What is the stamp duty rate applicable in Balaji Nagar 5th Street?

The stamp duty rate applicable in Balaji Nagar 5th Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Balaji Nagar 5th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

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