Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 505 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

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 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a rise of 233%. However, it decreased to Rs 335 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 500 per sq.ft in 2023, followed by a slight increase to Rs 505 per sq.ft in 2024, representing a 1% change.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 237%.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. Balaji Nagar's current guideline value is above this median.

• Balaji Avenue: Rs 505 per sq.ft (2024)
• Babu Nagar: Rs 505 per sq.ft (2024)
• Ashok Nagar: Rs 400 per sq.ft (2024)
• Arthanareeswarar Nagar: Rs 400 per sq.ft (2024)
• Ambal Nagar: Rs 400 per sq.ft (2024)
• Adhithya Garden: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 505 per sq.ft, the total guideline value would be Rs 5,05,000. The stamp duty at 7% would amount to Rs 35,350, and the registration fee at 2% would be Rs 10,100, bringing the total fees to Rs 45,450. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Orathur. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration.

When buying or selling property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 505 per sq.ft in 2024, reflecting an overall increase of 237% over the years.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Special Type - III, which is significant for determining its guideline value.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 45,450.