Guideline Value for Balaji Nagar Extension

Balaji Nagar Extension guideline value

The current guideline value of Balaji Nagar Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar Extension has changed

The guideline value for Balaji Nagar Extension has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 330 per sq.ft. This increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The next significant jump occurred in 2007 when the value rose to Rs 1,250 per sq.ft, an increase of 232%. In 2012, the value was Rs 3,500 per sq.ft, reflecting an increase of 180% from the previous revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision saw a rise to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1082%. The register does not have figures for revisions in years other than those mentioned.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which matches the current guideline value for Balaji Nagar Extension.

• Balaji Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extension?

The Sub Registrar Office that covers Balaji Nagar Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is crucial when registering property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension?

The current guideline value of Balaji Nagar Extension is Rs 3,900 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 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1082% over this period.

What is the role of the Alandur SRO?

The Alandur SRO is responsible for the registration of properties in the Adambakkam area, including Balaji Nagar Extension. It ensures that property transactions comply with local regulations.

What fees are associated with buying property in Balaji Nagar Extension?

When buying property, buyers should be aware of the stamp duty, which is 7% of the guideline value, and the registration fee, which is 2% of the guideline value.

Where can I find more information about property registration?

For more information about property registration and related fees, you can use the stamp duty and registration fee calculator.