Guideline Value for Balaji Nagar Extension

Balaji Nagar Extension guideline value

The current guideline value of Balaji Nagar Extension is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Balaji Nagar Extension has changed

The guideline value for Balaji Nagar Extension has undergone several revisions over the years. In 2003, the guideline value was Rs 366 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2007. The value saw a remarkable rise of 344% between 2007 and 2012, reaching Rs 4,000 per sq.ft. However, it then decreased by 33% to Rs 2,680 per sq.ft in 2017. The value continued to rise, reaching Rs 4,000 per sq.ft in 2023, and has now increased by 10% to Rs 4,400 per sq.ft in the 2024 revision.

Overall, from 2003 to 2024, there has been an increase of 1102% in the guideline value. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Balaji Nagar Extension's 2024 figure above that median.

• Balaji Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling of property.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension?

The current guideline value of Balaji Nagar Extension is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 366 per sq.ft to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1102% over this period.

What is the median guideline value in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, with Balaji Nagar Extension's value being above this median.

What are the stamp duty and registration fees for property in Balaji Nagar Extension?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.