Guideline Value for Balaji Nagar Narmadha Street

Balaji Nagar Narmadha Street guideline value

The current guideline value of Balaji Nagar Narmadha 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 Narmadha Street has changed

The guideline value for Balaji Nagar Narmadha Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period experienced a decrease of 33%. The most significant rise occurred from 2007 to 2012, with an increase of 208%. Overall, from 2007 to 2024, the guideline value has increased by 238%. The register has no figures for the years 2002 and 2003 for this street.

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 guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Balaji Nagar Narmadha Street.

• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Kaveri 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 Narmadha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, making the total cost for these fees 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 Narmadha Street?

The Sub Registrar Office that covers Balaji Nagar Narmadha Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 is a crucial factor in property transactions in Irumpuliyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory costs when buying or selling property.

When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is assessed to ensure that the property is not undervalued. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

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

The current guideline value of Balaji Nagar Narmadha 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 changed from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 238% over the years.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the land classification for Balaji Nagar Narmadha Street?

The land classification for Balaji Nagar Narmadha Street is Residential Special Type - II.