Guideline Value for Balaji Nagar 8th Street

Balaji Nagar 8th Street guideline value

The current guideline value of Balaji Nagar 8th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Balaji Nagar 8th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 253 per sq.ft. This increased to Rs 284 per sq.ft in 2003, marking a 12% rise. The next significant jump occurred from 2003 to 2007, where the value surged to Rs 1,200 per sq.ft, reflecting a 323% increase. In 2012, the value was Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision.

From 2012 to 2017, the guideline value remained at Rs 1,675 per sq.ft, before increasing to Rs 2,500 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 brought the value to Rs 2,800 per sq.ft, which is a 12% increase from 2023. 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 with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is the same as the 2024 figure for Balaji Nagar 8th Street.

• Balaji Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 6th 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 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Balaji Nagar 8th Street?

The Sub Registrar Office that covers Balaji Nagar 8th 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 is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that all transactions are transparent and comply with the regulations set by the Registration Department.

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1007% over this period.

What is the land classification for Balaji Nagar 8th Street?

Balaji Nagar 8th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where can I find the Sub Registrar Office for Balaji Nagar 8th Street?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.