Guideline Value for Balaji Nagar Extension

Balaji Nagar Extension guideline value

The current guideline value of Balaji Nagar Extension is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Panapakkam village under the Padappai SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar Extension has changed

The guideline value for Balaji Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. The 2023 revision saw an increase to Rs 700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the fluctuations in the intervening years. Specifically, the increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Balaji Nagar Extension aligns with this median.

• Balaji Nagar Part I: Rs 770 per sq.ft (2024)
• Balaji Avenue: Rs 770 per sq.ft (2024)
• Blue Bird City Phase II: Rs 770 per sq.ft (2024)
• Annai Anandha Layout: Rs 770 per sq.ft (2024)
• Dharanirajapuram: Rs 770 per sq.ft (2024)
• Easwari Nagar: Rs 770 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 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Extension?

The Sub Registrar Office that covers Balaji Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering 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 from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension?

The current guideline value of Balaji Nagar Extension is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

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

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

Where is the Sub Registrar Office for Balaji Nagar Extension located?

The Padappai Sub Registrar Office, which covers Balaji Nagar Extension, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Other streets in Panapakkam with the same guideline value of Rs 770 per sq.ft include Balaji Nagar Part I, Balaji Avenue, Blue Bird City Phase II, Annai Anandha Layout, Dharanirajapuram, and Easwari Nagar.