Guideline Value for Balaji Nagar 9th Street

Balaji Nagar 9th Street guideline value

The current guideline value of Balaji Nagar 9th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Balaji Nagar 9th Street has changed

The guideline value for Balaji Nagar 9th Street has undergone several revisions over the years. In 2002, the 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 jump to Rs 1,250 per sq.ft in 2007, representing a 232% increase. By 2012, the value reached Rs 3,500 per sq.ft, indicating a 180% increase from the previous revision.

Following that, the value decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. However, it rebounded to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft in 2024, reflecting an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1082%.

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 guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Balaji Nagar 9th Street.

• Balaji Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 6th 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 9th 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, while the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 9th Street?

The Sub Registrar Office that covers Balaji Nagar 9th 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 is a crucial factor during the registration of property transactions 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 local regulations.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. It is essential to be aware of the current guideline value to accurately calculate these costs and make informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Balaji Nagar 9th Street?

The current guideline value of Balaji Nagar 9th 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 significantly, increasing from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 1082% over this period.

What is the land classification for Balaji Nagar 9th Street?

Balaji Nagar 9th Street falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property in Balaji Nagar 9th Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 39,00,000. The stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Balaji Nagar 9th Street located?

The Sub Registrar Office for Balaji Nagar 9th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.