Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, Pozhichalur village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I 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 the 2007 revision, the value was Rs 400 per sq.ft. This increased to Rs 804 per sq.ft in 2017, marking a 101% rise. The next revision in 2023 set the value at Rs 1,200 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 raised the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2012 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. This substantial growth highlights the evolving nature of property values in the area.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the guideline value of Balaji Nagar.

• Balaji 1,2,3,4,5 Nagar: Rs 1,320 per sq.ft (2024)
• Balakrishnan Street: Rs 1,100 per sq.ft (2024)
• Bajanai Koil St: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 3rd Cross Street: Rs 2,200 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

The Balaji Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor during the registration of property transactions in Pozhichalur. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures that all transactions are conducted transparently and in accordance with the legal framework governing real estate in Tamil Nadu.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, a total increase of 230% over the years.

What are the other streets with guideline values in Pozhichalur?

Other streets in Pozhichalur include Balaji 1,2,3,4,5 Nagar at Rs 1,320 per sq.ft, Balakrishnan Street at Rs 1,100 per sq.ft, and several Bajanai Koil streets at Rs 2,200 per sq.ft.

What is the stamp duty rate for properties in Balaji Nagar?

The stamp duty rate for properties in Balaji Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

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