Guideline Value for Balaji Nagar Main Road

Balaji Nagar Main Road guideline value

The current guideline value of Balaji Nagar Main Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Balaji Nagar Main Road has changed

The guideline value for Balaji Nagar Main Road has undergone several revisions over the years. In 2002, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and the value further increased to Rs 3,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,010 per sq.ft. The most recent revisions saw the value rise to Rs 3,000 per sq.ft in 2023 and then to Rs 3,301 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is +817%. The jump from 2012 to 2017 was a decrease of -33%, while the increase from 2017 to 2023 was +49%. The most recent change from 2023 to 2024 reflects a +10% increase.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is equal to the 2024 figure for Balaji Nagar Main Road.

• Balaraman Street: Rs 2,700 per sq.ft (2024)
• Balaram Reddy Colony: Rs 2,700 per sq.ft (2024)
• Balaram Reddy Street: Rs 2,700 per sq.ft (2024)
• Balasubramaniyan Salai: Rs 2,700 per sq.ft (2024)
• Ballard Street: Rs 2,700 per sq.ft (2024)
• Balvargise Colony: Rs 2,700 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 rate of Rs 3,301 per sq.ft, the guideline value would be Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total Rs 2,97,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Main Road?

The Sub Registrar Office that covers Balaji Nagar Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Peravallur. When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees, ensuring that all transactions are in accordance with the state's regulations.

During the registration process, the guideline value is used to determine the applicable fees. Buyers and sellers must be aware that the duty is charged based on the higher of the guideline value or the sale price, which helps maintain transparency in 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 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of +817% over the years.

What are the other streets in Peravallur with their guideline values?

Other streets in Peravallur include Balaraman Street, Balaram Reddy Colony, Balaram Reddy Street, Balasubramaniyan Salai, Ballard Street, and Balvargise Colony, all valued at Rs 2,700 per sq.ft in 2024.

What is the stamp duty rate for properties in Balaji Nagar Main Road?

The stamp duty rate for properties in Balaji Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balaji Nagar Main Road located?

The Sub Registrar Office for Balaji Nagar Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.