Guideline Value

Corporate

Guideline Value for Balaji Nagar 6th Street

₹2750/sq.ft.

The guideline value for Balaji Nagar 6th 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 6th Street

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Balaji Nagar 6th Street guideline value

The current guideline value of Balaji Nagar 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class III Type - I land classification.

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. In 2002, the guideline value was Rs 188 per sq.ft. This increased to Rs 300 per sq.ft in 2003, marking a 60% rise. The value then rose to Rs 500 per sq.ft in 2007, representing a 67% increase. Following that, the guideline value saw a significant jump to Rs 2,500 per sq.ft in 2012, which was a 400% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Throughout these revisions, there are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,363%.

Guideline values in Nerkundram

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

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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee, charged at 2%, would be Rs 55,000. Together, the total fees would amount 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.

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 covering Balaji Nagar 6th 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 additional information.

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

The guideline value is a critical factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during transactions to ensure compliance with local regulations.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees. It is essential to be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

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

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 188 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,363%.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram, such as Balaji Nagar 2nd, 3rd, 4th, 5th, 7th, and 8th Streets, also have a guideline value of Rs 2,750 per sq.ft in 2024.

What is the registration fee for property in Balaji Nagar 6th Street?

The registration fee for property in Balaji Nagar 6th Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Virugambakkam Sub Registrar Office located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, or by using the online resources available.