Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value for Balaji Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village, under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. The earliest available figure is from 2007, where it was Rs 250 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, followed by a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and finally, it reached Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2007 to 2024, the overall change in guideline value is an increase of 540%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, indicating that Balaji Nagar's 2024 figure is below this median.

• Balaji Avenue Ext: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue: Rs 1,600 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 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, making it essential to understand the current guideline values in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, representing an overall increase of 540% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Balaji Nagar's value being below this median.

What fees are associated with buying property in Balaji Nagar?

When buying property in Balaji Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Balaji Nagar located?

The Selaiyur Sub Registrar Office, which covers Balaji Nagar, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.