Guideline Value for Balaji Nagar Extn

Balaji Nagar Extn guideline value

The current guideline value of Balaji Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Balaji Nagar Extn has changed

The guideline value for Balaji Nagar Extn has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Balaji Nagar Extn.

• Balakrishna Nagar: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Bharaniputhur Road: Rs 2,200 per sq.ft (2024)
• Bharathi Cross Street: Rs 1,980 per sq.ft (2024)
• Bharathi Nagar: Rs 2,200 per sq.ft (2024)
• Bharathiyar Cross Street: Rs 1,980 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 guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty charged at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. 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 further assistance.

Which Sub Registrar Office covers Balaji Nagar Extn?

The Balaji Nagar Extn area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not sold for less than its assessed value.

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

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn?

The current guideline value of Balaji Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets with the same guideline value?

Other streets in Kerugambakkam with the same guideline value of Rs 2,200 per sq.ft include Balakrishna Nagar, Bharathi Nagar, and Bharaniputhur Road.

What is the registration office for Balaji Nagar Extn?

The registration office covering Balaji Nagar Extn is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.