Guideline Value for Balaji Nagar 8th Street

Balaji Nagar 8th Street guideline value

The current guideline value of Balaji Nagar 8th Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and is classified as Residential Class III Type - I.

How the guideline value of Balaji Nagar 8th Street has changed

The guideline value for Balaji Nagar 8th Street has seen significant changes over the years. The earliest recorded figure is from 2003, which was Rs 221 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a 36% rise. By 2017, the value surged to Rs 1,407 per sq.ft, reflecting a remarkable 369% increase from the 2007 revision. The value further escalated to Rs 2,099 per sq.ft in 2023, a 49% increase from the previous figure.

The most recent revision in 2024 has set the guideline value at Rs 2,350 per sq.ft, which is a 12% increase from the 2023 figure. It is important to note that there are no recorded figures for Balaji Nagar 8th Street in the years 2002 and 2012.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Balaji Nagar 8th Street's 2024 figure above the median.

• Balaji Nagar 7th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar Anna Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total cost together to Rs 2,11,500. 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 8th Street?

The Sub Registrar Office that covers Balaji Nagar 8th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Anakaputhur, as it is used to determine the stamp duty and registration fees applicable during the buying or selling process. When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property.

Buyers and sellers should be aware that the guideline value is updated periodically, and it is essential to check the latest figures to understand the financial implications of their property transactions. This helps in ensuring compliance with local regulations and avoiding any potential penalties.

Frequently asked questions

What is the current guideline value of Balaji Nagar 8th Street?

The current guideline value of Balaji Nagar 8th Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 221 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, reflecting an overall increase of 963% over this period.

What is the registration office for Balaji Nagar 8th Street?

The registration office for Balaji Nagar 8th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Balaji Nagar 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, at the current guideline value, the stamp duty would be 7% of the guideline value.

Are there other streets in Anakaputhur with the same guideline value?

Yes, there are several other streets in Anakaputhur that share the same guideline value of Rs 2,350 per sq.ft for 2024, including Balaji Nagar 7th Street, Balaji Nagar 9th Street, Balaji Nagar Anna Street, Balaji Nagar 6th Street, Balaji Nagar 5th Street, and Balaji Nagar 4th Street.