Guideline Value for Balaji Nagar 6th Street

Balaji Nagar 6th Street guideline value

The current guideline value of Balaji Nagar 6th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Balaji Nagar 6th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 253 per sq.ft. This increased to Rs 284 per sq.ft in 2003, marking a 12% rise. The value saw a significant jump to Rs 1,200 per sq.ft in 2007, which is a 323% increase. The next revision in 2012 saw the value drop to Rs 2,500 per sq.ft, a decrease of 33%. In 2017, the value increased again to Rs 1,675 per sq.ft, a 49% rise. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, and the current value for 2024 is Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 1007%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Balaji Nagar 6th Street's 2024 figure is equal to this median.

• Balaji Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 5th Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 details.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable charges. This ensures that the fees reflect the current market conditions as indicated by the guideline values.

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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1007% over the years.

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

Balaji Nagar 6th Street is classified as Residential Class II Type - I, which is important for determining the applicable guidelines and regulations.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees are reflective of the current market conditions as indicated by the guideline values.