Guideline Value for Balaji Nagar Annex

Balaji Nagar Annex guideline value

The current guideline value of Balaji Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Balaji Nagar Annex has changed

The guideline value for Balaji Nagar Annex has seen several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 167%. However, in 2017, it decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased substantially to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,200 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 193%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Balaji Nagar Annex below this median.

• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar: Rs 3,300 per sq.ft (2024)
• Bakthavatchalam Street: Rs 6,600 per sq.ft (2024)
• Bemaswaran Koil St: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street (Near mudichur road ward-31): Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street ( Near Gandhi road Ward-1 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Annex

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that 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 Annex?

The Sub Registrar Office that covers Balaji Nagar Annex is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value as per government regulations.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Annex?

The current guideline value of Balaji Nagar Annex is Rs 2,200 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 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the land classification for Balaji Nagar Annex?

Balaji Nagar Annex is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Balaji Nagar Annex?

The Sub Registrar Office for Balaji Nagar Annex is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Balaji Nagar Annex?

Stamp duty for properties in Balaji Nagar Annex is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.