Guideline Value for Balaji Nagar Main

Balaji Nagar Main guideline value

The current guideline value of Balaji Nagar Main is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar Main has changed

The guideline value for Balaji Nagar Main has seen significant changes over the years. In 2003, the guideline value was Rs 284 per sq.ft, which rose to Rs 1,200 per sq.ft in 2007, marking an increase of 323%. The value then increased to Rs 2,500 per sq.ft in 2012, reflecting a growth of 108%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,800 per sq.ft in 2024, showing an increase of 12%.

Overall, the guideline value has increased from Rs 284 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, which is a remarkable overall increase of 886% across these years. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Ullagaram

Ullagaram has a total of 298 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 guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the current value for Balaji Nagar Main.

• Balaji Nagar Extension 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar Extension: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• BalajI Nagar Ext. 1st Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 2nd Cross Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our 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 Ullagaram

The guideline value plays a crucial role during the registration of property transactions in Ullagaram. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with the regulations set by the Registration Department.

Additionally, the guideline value serves as a reference point for both buyers and sellers in property dealings. It helps in understanding the value of the property being transacted and ensures that the necessary fees are calculated based on the prevailing rates.

Frequently asked questions

What is the current guideline value of Balaji Nagar Main?

The current guideline value of Balaji Nagar Main is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 284 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 886% across these years.

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

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

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

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

What is the land classification of Balaji Nagar Main?

Balaji Nagar Main is classified as Residential Class II Type - I according to the guideline value register.