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 area is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value of Balaji Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision further raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Balaji Nagar's 2024 figure below this median.

• Balaji Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Bala Garden Extension: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 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 rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can 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 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 Madambakkam

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant increase of 49% from 2017 to 2023.

What are the other streets with the same guideline value in Madambakkam?

Other streets in Madambakkam with the same guideline value of Rs 2,200 per sq.ft include Balaji Nagar 1st Cross Street, Balaji Nagar 1st Street, Balaji Nagar 2nd Cross Street, Balaji Nagar 2nd Street, Bala Garden Extension, and Balaji Nagar 3rd Cross Street.

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 Selaiyur Sub Registrar Office located?

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