Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Balaji Nagar has changed

The guideline value of Balaji Nagar has seen significant changes over the years. In 2002, the value was Rs 40 per sq.ft, which increased to Rs 50 per sq.ft in 2003, marking a 25% rise. The value then rose sharply to Rs 350 per sq.ft in 2007, reflecting a 600% increase. By 2017, the guideline value further escalated to Rs 1,206 per sq.ft, which was a substantial 245% increase from the previous revision. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 4,850%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that Balaji Nagar's 2024 figure is below this median.

• Balaguruswamy Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Balaguruswamy Street, Annai Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Balaji Street Extn., /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Balaji Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Balakrishnan Street: Rs 1,760 per sq.ft (2024)
• Bajanai Koil Street / Thiruvalluvar Nagar: Rs 2,475 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total fees would be Rs 1,78,200. 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 information.

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 additional details.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on current market conditions. It is essential for buyers and sellers to be aware of these values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,980 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 40 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 4,850%.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, indicating that Balaji Nagar's 2024 figure is below this median.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Balaji Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.