Guideline Value for Balaji Nagar 6th Cross Street

Balaji Nagar 6th Cross Street guideline value

The current guideline value of Balaji Nagar 6th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Balaji Nagar 6th Cross Street has changed

The guideline value for Balaji Nagar 6th Cross Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,402 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 185%. However, it then decreased to Rs 2,680 per sq.ft in the 2017 revision, which was a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and the current revision in 2024 shows an increase to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Balaji Nagar 6th Cross Street's 2024 guideline value of Rs 4,400 per sq.ft is above this median.

• Balaji Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar 6th Cross Street?

The Sub Registrar Office that covers Balaji Nagar 6th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 6th Cross Street?

The current guideline value of Balaji Nagar 6th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 1,402 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 214%.

What are the stamp duty rates applicable in Kolathur?

The stamp duty rate applicable in Kolathur is 7%, which is calculated based on the higher of the guideline value or the sale price during property transactions.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, with Balaji Nagar 6th Cross Street's value of Rs 4,400 per sq.ft being above this median.