Guideline Value for Balaji Nagar Kaveri Street

Balaji Nagar Kaveri Street guideline value

The current guideline value of Balaji Nagar Kaveri Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Balaji Nagar Kaveri Street has changed

The guideline value for Balaji Nagar Kaveri Street has undergone several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft by 2012. However, in 2017, it dropped to Rs 1,340 per sq.ft, before rising again to Rs 2,000 per sq.ft in 2023. The current revision in 2024 sees the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The overall change from 2007 to 2024 is a substantial increase of 238%. The register has no figure for this street in 2002 and 2003.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current value of Balaji Nagar Kaveri Street.

• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Narmadha Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar (Bhavani Street): Rs 2,200 per sq.ft (2024)
• Balaraman Street: Rs 2,530 per sq.ft (2024)
• Barathidasan Street: Rs 2,530 per sq.ft (2024)
• Bavani Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Kaveri Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Kaveri Street?

The Sub Registrar Office that covers Balaji Nagar Kaveri Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value plays a crucial role in property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered. This ensures that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The registration process requires payment of stamp duty based on the higher of the two values, ensuring compliance with legal and financial obligations.

Frequently asked questions

What is the current guideline value of Balaji Nagar Kaveri Street?

The current guideline value of Balaji Nagar Kaveri Street 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 seen various changes, starting from Rs 650 per sq.ft in 2007, rising to Rs 2,200 per sq.ft in 2024, with fluctuations in between, including a drop in 2017.

What is the land classification for Balaji Nagar Kaveri Street?

The land classification for Balaji Nagar Kaveri Street is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Balaji Nagar Kaveri Street?

The Sub Registrar Office for Balaji Nagar Kaveri Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.