Guideline Value for Balaji Nagar Extension

Balaji Nagar Extension guideline value

The current guideline value of Balaji Nagar Extension is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar Extension has changed

The guideline value for Balaji Nagar Extension has seen several revisions over the years. In 2002, the value was Rs 239 per sq.ft, which increased to Rs 268 per sq.ft in 2003. Following this, the value surged significantly to Rs 1,200 per sq.ft in 2007, marking a 348% increase. The value then rose to Rs 2,500 per sq.ft in 2012, reflecting a 108% increase from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value increased again to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,072%. The register has no figures for revisions in years other than those listed.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the guideline value for Balaji Nagar Extension.

• BalajI Nagar Ext. 1st Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar Extension 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,800 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 rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty, charged at 7%, would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ullagaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the legal obligations for both parties involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension?

The current guideline value of Balaji Nagar Extension is Rs 2,800 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 239 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1,072% over this period.

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

Other streets in Ullagaram with a guideline value of Rs 2,800 per sq.ft include BalajI Nagar Ext. 1st Street, Balaji Nagar Extension 2nd Street, Balaji Nagar 9th Street, Balaji Nagar 8th Street, Balaji Nagar 7th Street, and Balaji Nagar 6th Street.

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

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Balaji Nagar Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.