Guideline Value for Balaji Nagar Extension-1

Balaji Nagar Extension-1 guideline value

The current guideline value of Balaji Nagar Extension-1 is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village and falls under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar Extension-1 has changed

The guideline value for Balaji Nagar Extension-1 has seen several revisions over the years. In 2002, the guideline value was Rs 520 per sq.ft. This increased to Rs 53 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The value then jumped to Rs 800 per sq.ft in 2012, before dropping to Rs 536 per sq.ft in 2017. The revisions continued with a rise to Rs 1,000 per sq.ft in 2023, and the latest revision set the value at Rs 1,100 per sq.ft in 2024.

Between these revisions, notable changes include an increase of 466% from 2003 to 2007, followed by a 167% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then surged by 87% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. The overall change from 2002 to 2024 reflects an increase of 112%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, indicating that Balaji Nagar Extension-1's 2024 figure is slightly below this median.

• Balaji Nagar Part-3: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part I: Rs 1,100 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,100 per sq.ft (2024)
• Azhagiri Street: Rs 1,100 per sq.ft (2024)
• Bharathidasan Street: Rs 1,100 per sq.ft (2024)
• Bharathi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extension-1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total costs together to Rs 99,000. It is important to note that the 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 Extension-1?

The Sub Registrar Office that covers Balaji Nagar Extension-1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a critical figure used during the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension-1?

The current guideline value of Balaji Nagar Extension-1 is Rs 1,100 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 520 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 112% over the years.

What is the stamp duty rate for property in Balaji Nagar Extension-1?

The stamp duty rate for property in Balaji Nagar Extension-1 is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar Extension-1?

The Sub Registrar Office for Balaji Nagar Extension-1 is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets with the same guideline value in Puzhal?

Other streets in Puzhal with the same guideline value of Rs 1,100 per sq.ft include Balaji Nagar Part-3, Balaji Nagar Part I, Bajanai Kovil Street, Azhagiri Street, Bharathidasan Street, and Bharathi Street.