Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Vedanareyanapuram village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 123 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 388%. However, in 2017, the value dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 600 per sq.ft in 2023, and it has remained the same in the 2024 revision, indicating no change from the previous year.

It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 388%.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,050 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the current guideline value of Balaji Nagar.

• Barathi Nagar: Rs 900 per sq.ft (2024)
• Amma Nagar: Rs 500 per sq.ft (2024)
• Gopal Nagar: Rs 600 per sq.ft (2024)
• Gopal Nagar Ext: Rs 600 per sq.ft (2024)
• Mgr Nagar: Rs 501 per sq.ft (2024)
• Perumal Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar?

The Chengleput Joint I Sub Registrar Office covers Balaji Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vedanareyanapuram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty 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?

The current guideline value of Balaji Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 123 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then dropped to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value in Vedanareyanapuram?

The median guideline value in Vedanareyanapuram is Rs 600 per sq.ft, which is the same as the current value for Balaji Nagar.

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

For a property valued at Rs 6,00,000, the total stamp duty and registration fees would amount to Rs 54,000, which includes Rs 42,000 for stamp duty and Rs 12,000 for registration.

Where is the Chengleput Joint I Sub Registrar Office located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.