Guideline Value for Balaji Nagar 6th Street

Balaji Nagar 6th Street guideline value

The current guideline value of Balaji Nagar 6th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. 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 6th Street has changed

The guideline value for Balaji Nagar 6th Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 330 per sq.ft. This value increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The next significant jump occurred in 2007, where the guideline value rose to Rs 1,250 per sq.ft, a substantial increase of 232%. In 2012, the value remained at Rs 3,500 per sq.ft, showing no change in the register for that year. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33% from the previous figure.

From 2017 to 2023, the guideline value increased significantly to Rs 3,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 saw the guideline value reach Rs 3,900 per sq.ft, an increase of 11% from 2023. Overall, the guideline value has risen by 1,082% from 2002 to 2024.

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 among these streets is Rs 3,900 per sq.ft, which is equal to the current value of Balaji Nagar 6th Street.

• Balaji Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 5th 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 6th 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, while 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 6th Street?

The Sub Registrar Office that covers Balaji Nagar 6th 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 plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during transactions.

When registering a property, buyers and sellers must consider the guideline value, as it affects the stamp duty and registration fees applicable to the transaction. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Balaji Nagar 6th Street?

The current guideline value of Balaji Nagar 6th 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 increased from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,082% over the years.

What is the land classification for Balaji Nagar 6th Street?

Balaji Nagar 6th Street is classified as Residential Class I Type - III.

Where can I find the registration office for Balaji Nagar 6th Street?

The registration office for Balaji Nagar 6th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Balaji Nagar 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.