Guideline Value for Balaji Nagar 7th Street

Balaji Nagar 7th Street guideline value

The current guideline value of Balaji Nagar 7th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Balaji Nagar 7th Street has seen several revisions over the years. In the 2002 revision, the value was Rs 253 per sq.ft, which increased significantly to Rs 284 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft before rising again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft.

Between the revisions, notable changes include a 12% increase from 2023 to 2024, a 49% rise from 2017 to 2023, and a 33% decrease from 2012 to 2017. The increase from 2007 to 2012 was 108%, and from 2003 to 2007, it was a remarkable 323%. 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. The guideline value of Balaji Nagar 7th Street is equal to this median.

• Balaji Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 9th 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 4th Street: Rs 2,800 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 rate, the guideline value is Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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 Ullagaram

The guideline value serves as a benchmark for property transactions in Ullagaram. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The higher of the guideline value and the actual sale price will determine the applicable duties and fees at the time of registration.

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Balaji Nagar 7th Street?

Balaji Nagar 7th Street is classified as Residential Class II Type - I.

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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.