Guideline Value for Balaji Nagar Extn.

Balaji Nagar Extn. guideline value

The current guideline value of Balaji Nagar Extn. is Rs 806 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Balaji Nagar Extn. has changed

The guideline value for Balaji Nagar Extn. has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 600 per sq.ft. This increased to Rs 402 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 100%, bringing it back to Rs 806 per sq.ft. The 2024 revision maintains this value at Rs 806 per sq.ft, indicating no change from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Balaji Nagar Extn.'s 2024 figure below this median.

• Balaji Nagar: Rs 805 per sq.ft (2024)
• Bajanai Koil Street(Kannada palayam): Rs 807 per sq.ft (2024)
• Bharathi Nagar: Rs 1,100 per sq.ft (2024)
• Bharathi Nagar Extensition: Rs 1,100 per sq.ft (2024)
• Bharathi Street: Rs 1,100 per sq.ft (2024)
• Ashok Nagar Main Road: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 806 per sq.ft, the guideline value amounts to Rs 8,06,000. The stamp duty at 7% would be Rs 56,420, and the registration fee at 2% would be Rs 16,120, totaling Rs 72,540. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extn.?

The Sub Registrar Office that covers Balaji Nagar Extn. is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the authorities.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn.?

The current guideline value of Balaji Nagar Extn. is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 806 per sq.ft in 2023 and 2024.

What is the land classification for Balaji Nagar Extn.?

Balaji Nagar Extn. is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Balaji Nagar Extn. located?

The Sub Registrar Office for Balaji Nagar Extn. is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Balaji Nagar Extn.?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 8,06,000, the stamp duty at 7% would be Rs 56,420.