Guideline Value for Balaji Nagar Street Main Colony

Balaji Nagar Street Main Colony guideline value

The current guideline value of Balaji Nagar Street Main Colony is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Balaji Nagar Street Main Colony has changed

The guideline value for Balaji Nagar Street Main Colony has undergone several revisions over the years. The 2007 revision set the value at Rs 1,700 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. The following revision in 2023 raised the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 3,900 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents an 11% rise. Overall, from the 2007 revision to the 2024 revision, there has been a significant increase of 129%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Balaji Nagar Street Main Colony.

• Balaji Nagar Main road: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Barma Tamizhar Colony: Rs 2,200 per sq.ft (2024)
• Bakthavachalam Nagar South 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Street Main Colony

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 details.

Which Sub Registrar Office covers Balaji Nagar Street Main Colony?

The Sub Registrar Office that covers Balaji Nagar Street Main Colony 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 Thalakanancherry

The guideline value is a crucial factor during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar Street Main Colony?

The current guideline value of Balaji Nagar Street Main Colony 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 changed from Rs 1,700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

What is the land classification for Balaji Nagar Street Main Colony?

Balaji Nagar Street Main Colony is classified as Residential Class I Type - III.

What are the stamp duty rates applicable?

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

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

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