Guideline Value for Balaji Nagar 9th Street

Balaji Nagar 9th Street guideline value

The current guideline value of Balaji Nagar 9th 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 9th Street has changed

The guideline value of Balaji Nagar 9th Street has seen several revisions over the years. The earliest recorded value was Rs 253 per sq.ft in 2002, which increased significantly to Rs 284 per sq.ft in 2003, marking a 12% rise. Following this, the value surged to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of 323%. In 2012, the value was recorded again at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision.

From 2017 to 2023, the guideline value reached Rs 2,500 per sq.ft, and then it increased to Rs 2,800 per sq.ft in 2024, showing a 12% rise. The value in 2017 was Rs 1,675 per sq.ft, indicating a 49% increase over the six-year period until the 2023 revision. 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 guideline value for Balaji Nagar 9th Street.

• Balaji Nagar 8th 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 9th Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to 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, bringing the total to Rs 2,52,000. 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 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 Ullagaram

The guideline value is a crucial factor when buying or selling property in Ullagaram, as it serves as a benchmark for determining the stamp duty and registration fees. When a property is registered, the guideline value is used to calculate these fees, ensuring that they are based on the official value set by the government.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. Understanding this value can help in making informed decisions during the buying or selling 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 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, marking an overall increase of 1007% over the years.

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

Balaji Nagar 9th Street is classified as Residential Class II Type - I.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Balaji Nagar 9th Street?

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