Guideline Value

Corporate

Guideline Value for Balaji Nagar Part I

₹770/sq.ft.

The guideline value for Balaji Nagar Part I in Panapakkam village (Padappai SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Panapakkam

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹700 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balaji Nagar Part I

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Balaji Nagar Part I guideline value

The current guideline value of Balaji Nagar Part I is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Panapakkam village under the Padappai Sub Registrar Office (SRO) and falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar Part I has changed

Looking back at the revisions, the guideline value for Balaji Nagar Part I was Rs 700 per sq.ft in 2023, which increased to Rs 770 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 469 per sq.ft, which saw a significant increase of +49% to reach Rs 700 per sq.ft in 2023. The 2012 revision also recorded Rs 700 per sq.ft, but this was a decrease of -33% from Rs 469 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of +10%. The current value of Rs 770 per sq.ft aligns with the median value of Rs 770 per sq.ft for the 28 streets in Panapakkam under the Padappai SRO, which range from Rs 550 to Rs 990 per sq.ft.

Guideline values in Panapakkam

In Panapakkam, the guideline values for various streets reflect a range from Rs 550 to Rs 990 per sq.ft, with Balaji Nagar Part I's current value of Rs 770 per sq.ft sitting at the median. The following are other streets in Panapakkam:

Stamp duty and registration fee for property in Balaji Nagar Part I

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total fees would amount to Rs 69,300. 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 Part I?

The Balaji Nagar Part I falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Panapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This helps in avoiding any discrepancies during the registration process and ensures that all fees are accurately calculated and paid.

Frequently asked questions

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

The current guideline value of Balaji Nagar Part I is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of +10% from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024. The value has also increased by +49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What is the land classification for Balaji Nagar Part I?

Balaji Nagar Part I falls under the Residential Class I Type - I land classification. This classification is important for determining the regulations and guidelines applicable to the property.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. This office handles registrations for properties in Balaji Nagar Part I.

How is the stamp duty calculated for properties in Balaji Nagar Part I?

Stamp duty for properties in Balaji Nagar Part I is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable, which is based on the same value.