Guideline Value for Balaji Nagar Main Road

Balaji Nagar Main Road guideline value

The current guideline value of Balaji Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balaji Nagar Main Road has changed

The guideline value of Balaji Nagar Main Road has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 192%. However, the value dipped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought it back to Rs 3,500 per sq.ft, and the most recent 2024 revision set it at Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 225%, demonstrating significant changes over the years.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Balaji Nagar Main Road.

• Balaji Nagar Part 1: Rs 3,900 per sq.ft (2024)
• Balaji Nagar Part 2: Rs 3,900 per sq.ft (2024)
• Balaji Nagar First Street Part 1: Rs 3,900 per sq.ft (2024)
• Balaji Nagr 4th Street: Rs 3,900 per sq.ft (2024)
• Balakrishna Puram: Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 1st Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Main Road?

The Sub Registrar Office that covers Balaji Nagar Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is crucial for calculating these costs.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Main Road?

The current guideline value of Balaji Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 225% over the years.

What is the land classification for Balaji Nagar Main Road?

Balaji Nagar Main Road is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. This office handles the registration of properties in the area.