Guideline Value for Balaji Nagar Main

Balaji Nagar Main guideline value

The current guideline value of Balaji Nagar Main in Moovarasampattu village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Alandur SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar Main has changed

The guideline value has seen several revisions over the years. Starting from Rs 208 per sq.ft in 2003, it increased significantly to Rs 700 per sq.ft in 2007. The value then rose to Rs 3,000 per sq.ft in 2012, but dropped to Rs 2,010 per sq.ft in 2017. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024. The register has no figure for this street in 2002.

In terms of percentage changes, the guideline value increased by 237% from 2003 to 2007, followed by a 329% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1,487%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Balaji Nagar Main.

• Balaya Nagar: Rs 3,300 per sq.ft (2024)
• Bajanai Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar 1st Cross: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Cross: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Main

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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?

The Sub Registrar Office that covers Balaji Nagar Main 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the market conditions in the area. This value is used by the registration authorities to determine the applicable fees and taxes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar Main?

The current guideline value of Balaji Nagar Main is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 208 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with several revisions in between.

What are the stamp duty and registration fees for properties in Balaji Nagar Main?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Balaji Nagar Main?

The Alandur Sub Registrar Office covers Balaji Nagar Main, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties in Moovarasampattu?

The guideline value is determined based on various factors, including the location, land classification, and historical revisions. It is used as a standard for calculating stamp duty and registration fees during property transactions.