Guideline Value for Balaji Nagar 7th Cross Street

Balaji Nagar 7th Cross Street guideline value

The current guideline value of Balaji Nagar 7th 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 7th Cross Street has changed

The guideline value has undergone several revisions over the years. The 2007 revision set the value at Rs 900 per sq.ft, which saw a significant increase to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions, indicating no change during that period. The most recent revision in 2024 has raised the guideline value to Rs 4,400 per sq.ft, marking a 10% increase from the 2023 figure.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 389%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Balaji Nagar 7th Cross Street's 2024 figure above that median.

• Balaji Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 7th 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 amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. 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 detailed calculations.

Which Sub Registrar Office covers Balaji Nagar 7th Cross Street?

The Sub Registrar Office that covers Balaji Nagar 7th 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 during the registration process when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that must be paid, ensuring that these costs are based on a standardized valuation set by the government.

When a property is sold, the guideline value serves as a reference point to ensure that the transaction is recorded at a fair value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balaji Nagar 7th Cross Street?

The current guideline value of Balaji Nagar 7th 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 from Rs 900 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 389% over the years.

What is the land classification for Balaji Nagar 7th Cross Street?

The land classification for Balaji Nagar 7th Cross Street is Residential Special Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Balaji Nagar 7th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.