Guideline Value for Balaji Nagar Cross st ( Ward No.3 )

Balaji Nagar Cross st ( Ward No.3 ) guideline value

The current guideline value of Balaji Nagar Cross st ( Ward No.3 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Balaji Nagar Cross st ( Ward No.3 ) has changed

Over the years, the guideline value for Balaji Nagar Cross st has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 has set the value at Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between revisions, the changes have been significant. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The latest change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, indicating that the guideline value of Balaji Nagar Cross st is below this median.

• Balaji Nagar (Moolachatram Madura): Rs 1,300 per sq.ft (2024)
• Balaji Nagar Road (Moolachathiram) ( Ward No.2 ): Rs 1,300 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,300 per sq.ft (2024)
• Balakrishna Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Balaji Avenue: Rs 1,300 per sq.ft (2024)
• Bakvatchalam Nagar Rd ( Ward No.1 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Cross st ( Ward No.3 )

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Cross st ( Ward No.3 )?

The Sub Registrar Office that covers Balaji Nagar Cross st ( Ward No.3 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar Cross st ( Ward No.3 )?

The current guideline value of Balaji Nagar Cross st ( Ward No.3 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various revisions, with the most recent being an increase from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024.

What is the land classification for Balaji Nagar Cross st ( Ward No.3 )?

Balaji Nagar Cross st ( Ward No.3 ) is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Balaji Nagar Cross st ( Ward No.3 )?

The Madhavaram Sub Registrar Office covers Balaji Nagar Cross st and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Balaji Nagar Cross st?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,00,000 incurs a stamp duty of Rs 91,000 at a rate of 7%.