Guideline Value for Balaji Nagar 7th Street

Balaji Nagar 7th Street guideline value

The current guideline value of Balaji Nagar 7th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balaji Nagar 7th Street has changed

The guideline value for Balaji Nagar 7th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 330 per sq.ft, which increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The value saw a significant increase to Rs 1,250 per sq.ft in 2007, reflecting a 232% change. Following this, the value decreased to Rs 3,500 per sq.ft in 2012, which was a 180% increase from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 2,345 per sq.ft, a decrease of 33%. However, from 2017 to 2023, it surged to Rs 3,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an 11% increase from the previous year.

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 is Rs 3,900 per sq.ft, and Balaji Nagar 7th Street's 2024 figure aligns with this median.

• Balaji Nagar 6th 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 5th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 7th 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, and the registration fee at 2% would be Rs 78,000, making the total cost 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 7th Street?

The Sub Registrar Office that covers Balaji Nagar 7th 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 during property registration in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Balaji Nagar 7th 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 changed from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1082% over the years.

What is the registration office for Balaji Nagar 7th Street?

The registration office for Balaji Nagar 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, leading to a stamp duty of Rs 2,73,000.

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

Other streets in Adambakkam, such as Balaji Nagar 6th Street, 8th Street, 9th Street, 5th Street, 3rd Street, and Balaji Nagar Extension, also have a guideline value of Rs 3,900 per sq.ft in 2024.