Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Kerugambakkam village under the Pammal Sub Registrar Office, classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The revisions that do exist highlight a clear upward trend in the guideline values over the years.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Balaji Nagar.

• Balaji Nagar Extn: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar: Rs 2,200 per sq.ft (2024)
• Bharaniputhur Road: Rs 2,200 per sq.ft (2024)
• Bharathi Cross Street: Rs 1,980 per sq.ft (2024)
• Bharathi Nagar: Rs 2,200 per sq.ft (2024)
• Bharathiyar Cross Street: Rs 1,980 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 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, bringing the total fees together to 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 use our stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Kerugambakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the valuation of properties in the area, ensuring that the transaction reflects a fair assessment based on the latest revisions.

At the time of registration, buyers and sellers must consider the guideline value, as it is used to calculate the applicable fees. This ensures that the registration process is transparent and adheres to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% and the registration fee at 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations in Balaji Nagar?

The Pammal Sub Registrar Office is responsible for property registrations in Balaji Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.