Guideline Value for Balaji Nagar 7th Street

Balaji Nagar 7th Street guideline value

The current guideline value for Balaji Nagar 7th 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 Street has changed

The guideline value for Balaji Nagar 7th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 900 per sq.ft. This figure saw a significant increase in 2012, remaining at Rs 4,000 per sq.ft. The value did not change from 2012 to 2023, maintaining the same rate of Rs 4,000 per sq.ft. In 2023, the value increased to Rs 4,400 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 389%. Notably, there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO with a 2024 guideline value 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 Street's 2024 figure above this median.

• Balaji Nagar 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties adhere to the legal requirements set by the Registration Department.

When a property is sold, the guideline value helps in assessing the official value of the property for taxation purposes. This means that buyers and sellers must be aware of the current guideline value to understand their financial obligations 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 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 these years.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, with Balaji Nagar 7th Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Balaji Nagar 7th Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Balaji Nagar 7th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Balaji Nagar 7th Street.