Guideline Value for Balaji Nagar Extn

Balaji Nagar Extn guideline value

The current guideline value for Balaji Nagar Extn is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village, under the Sriperumpudur SRO, and is classified as 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. In 2012, the value was set at Rs 300 per sq.ft. However, in 2017, it decreased to Rs 201 per sq.ft. The subsequent revision in 2023 saw the value return to Rs 300 per sq.ft, where it remained for the 2024 revision as well. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, there has been no change in the guideline value, maintaining at Rs 300 per sq.ft.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 2,025 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the 2024 figure for Balaji Nagar Extn. Below are other streets in Valarpuram with their respective guideline values:

• Balaji Nagar: Rs 300 per sq.ft (2024)
• Barani Nagar: Rs 300 per sq.ft (2024)
• Bavana Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Bharathi Nagar: Rs 300 per sq.ft (2024)
• Ashok Nagar: Rs 200 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 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 Extn?

The Sub Registrar Office that covers Balaji Nagar Extn is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property in Valarpuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. 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 and fees. This ensures that both parties are aware of the financial implications of the transaction, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn?

The current guideline value of Balaji Nagar Extn is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024. There are no figures for the years 2002, 2003, and 2007 for this street.

What is the land classification for Balaji Nagar Extn?

Balaji Nagar Extn is classified as Residential Class II Type - I, which indicates the type of development and usage permitted in this area.

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

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 3,00,000, the total fees would amount to Rs 27,000.

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

The Sub Registrar Office for Balaji Nagar Extn is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.