Guideline Value for Balaji Nagar west

Balaji Nagar west guideline value

The current guideline value of Balaji Nagar west is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Balaji Nagar west has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the guideline value was Rs 129 per sq.ft, which increased to Rs 139 per sq.ft in 2003, marking an 8% rise. The value then jumped to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 188%. Following this, the 2012 revision saw the value at Rs 2,000 per sq.ft, which was a 400% increase from the previous figure. However, the 2017 revision brought the value down to Rs 1,340 per sq.ft, a decrease of 33% from 2012. The value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1605%. The register has no figures for revisions other than those listed for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Balaji Nagar west.

• Balaji Street (Ram Nagar): Rs 2,200 per sq.ft (2024)
• Bank Street: Rs 2,400 per sq.ft (2024)
• Banu Nagar (10th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar (11th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar (12th Avenue): Rs 2,200 per sq.ft (2024)
• Banu Nagar (13th Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar west

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 of duty and 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.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Balaji Nagar west?

The Sub Registrar Office that covers Balaji Nagar west is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar west?

The current guideline value of Balaji Nagar west 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 significantly from Rs 129 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1605% over this period.

What are the stamp duty and registration fees for property in Balaji Nagar west?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost of duty and fees would be Rs 1,98,000.

Which Sub Registrar Office covers Balaji Nagar west?

The Ambattur Sub Registrar Office covers Balaji Nagar west, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value determined for properties in Oragadam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification. For Oragadam, the guideline values range from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft.