Guideline Value for Balaji Nagar Annexe

Balaji Nagar Annexe guideline value

The current guideline value of Balaji Nagar Annexe is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village and falls under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar Annexe has changed

The guideline value of Balaji Nagar Annexe has experienced several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a 250% rise. However, this was followed by a decrease to Rs 938 per sq.ft in 2017, representing a decline of 33%. The value then rose to Rs 1,400 per sq.ft in 2023, before reaching the current rate of Rs 1,550 per sq.ft in 2024, which is an increase of 11%.

Overall, from 2007 to 2024, the guideline value has increased by 288%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Balaji Nagar Annexe is below this median.

• Arumugam Nagar: Rs 2,000 per sq.ft (2024)
• Annai Indhra Nagar: Rs 1,550 per sq.ft (2024)
• Alliance Boungain Villea: Rs 1,550 per sq.ft (2024)
• A.D.L. Velayutham Nagar: Rs 1,550 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 2,000 per sq.ft (2024)
• Indira Nagar: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would amount to Rs 31,000, bringing the total cost for these fees to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Annexe?

The Sub Registrar Office that covers Balaji Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Srinivasapuram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that both parties are aware of the financial obligations associated with the sale.

It is essential for buyers and sellers to be informed about the current guideline value, as it directly impacts the costs incurred during the registration process. Understanding these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Annexe?

The current guideline value of Balaji Nagar Annexe is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,550 per sq.ft in 2024, reflecting an overall increase of 288% over the years.

What are the stamp duty and registration fees for property in Balaji Nagar Annexe?

For a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500 and the registration fee would be Rs 31,000, totaling Rs 1,39,500.

Which Sub Registrar Office covers Balaji Nagar Annexe?

The Kunrathur Sub Registrar Office covers Balaji Nagar Annexe, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Balaji Nagar Annexe?

Balaji Nagar Annexe is classified as Residential Class I Type - I, indicating its designation for residential use.