Guideline Value for Balaji Nagar Anex

Balaji Nagar Anex guideline value

The current guideline value of Balaji Nagar Anex is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Balaji Nagar Anex has changed

The guideline value for Balaji Nagar Anex has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 398 per sq.ft. This increased to Rs 433 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 650 per sq.ft in 2007, which was a 50% increase from the previous revision. The 2012 revision maintained the value at Rs 3,000 per sq.ft, showing no change from the 2012 figure. The next revision in 2023 also kept the value at Rs 3,000 per sq.ft, thus remaining unchanged for a decade.

However, in the latest 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 729%, showcasing the significant changes in property valuation over the years. It is important to note that there is no figure for this street in the 2017 revision.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value for Balaji Nagar Anex below this median.

• Balaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar 1st Street - Sabari Street: Rs 3,300 per sq.ft (2024)
• Balaji Street: Rs 3,300 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Seran Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Park View Street: Rs 4,950 per sq.ft (2024)
• AZHVAR THIRUNAGAR - Park Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Anex

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Anex?

The Sub Registrar Office that covers Balaji Nagar Anex is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values helps in making informed decisions while engaging in property dealings in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar Anex?

The current guideline value of Balaji Nagar Anex is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, starting from Rs 398 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 729% over the years.

What are the stamp duty rates for property in Balaji Nagar Anex?

The stamp duty for property transactions in Balaji Nagar Anex is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the correct amounts are paid as per local regulations.