Guideline Value for Balaji Nagar Part I

Balaji Nagar Part I guideline value

The current guideline value of Balaji Nagar Part I is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Balaji Nagar Part I has changed

The guideline value for Balaji Nagar Part I has seen significant changes over the years. In 2003, the guideline value was Rs 54 per sq.ft. This figure increased dramatically to Rs 536 per sq.ft in 2017, marking an increase of 893%. The next revision in 2023 set the value at Rs 1,000 per sq.ft, which was an 87% increase from the previous figure. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 for this street in the register.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Balaji Nagar Part I's 2024 figure slightly below that median.

• Balaji Nagar Part-3: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Extension-1: Rs 1,100 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,100 per sq.ft (2024)
• Azhagiri Street: Rs 1,100 per sq.ft (2024)
• Bharathidasan Street: Rs 1,100 per sq.ft (2024)
• Bharathi Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Part I?

The Sub Registrar Office that covers Balaji Nagar Part I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the stamp duty is charged based on the higher value between the guideline value and the sale price. This ensures that the fees reflect the true value of the property being transferred.

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 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 54 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, which is an overall increase of 1,937%.

What is the registration office for Balaji Nagar Part I?

The Redhills Sub Registrar Office covers Balaji Nagar Part I, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.

Are there other streets in Puzhal with the same guideline value?

Yes, several other streets in Puzhal also have a guideline value of Rs 1,100 per sq.ft for 2024, including Balaji Nagar Part-3, Balaji Nagar Extension-1, Bajanai Kovil Street, Azhagiri Street, Bharathidasan Street, and Bharathi Street.