Guideline Value for Balaji Nagar Part 2

Balaji Nagar Part 2 guideline value

The current guideline value of Balaji Nagar Part 2 is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village and falls under the Alandur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Balaji Nagar Part 2 has changed

The guideline value for Balaji Nagar Part 2 has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 330 per sq.ft. This increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 900 per sq.ft in 2007, which was a significant increase of 139%. In 2012, the value was recorded at Rs 3,500 per sq.ft, reflecting a substantial growth of 289%. However, in 2017, the guideline value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The most recent revisions show the value at Rs 3,500 per sq.ft in 2023, which increased to Rs 3,900 per sq.ft in 2024, representing an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,082%. There are no figures available for the revisions in the years not listed above.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value for Balaji Nagar Part 2.

• Balaji Nagar Part 1: Rs 3,900 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar First Street Part 1: 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 Part 2

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be 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.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar Part 2?

The Sub Registrar Office that covers Balaji Nagar Part 2 is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Adambakkam. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When selling a property, the seller must also consider the guideline value, as it affects the overall transaction. It is essential for both buyers and sellers to stay informed about the guideline values to ensure a smooth registration experience.

Frequently asked questions

What is the current guideline value of Balaji Nagar Part 2?

The current guideline value of Balaji Nagar Part 2 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 increased from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1,082% over the years.

What is the land classification for Balaji Nagar Part 2?

Balaji Nagar Part 2 is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in Balaji Nagar Part 2?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Which office handles the registration for Balaji Nagar Part 2?

The Alandur Sub Registrar Office handles the registration for Balaji Nagar Part 2, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.