Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Katrampakkam village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value of Balaji Nagar has seen several revisions. In 2007, the guideline value was Rs 65 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, this figure remained unchanged until the 2017 revision, where it rose to Rs 201 per sq.ft, marking a 49% increase. The value was again revised to Rs 300 per sq.ft in 2023 and has remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 362%.

Guideline values in Katrampakkam

Katrampakkam village has a total of 41 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Balaji Nagar's 2024 figure above this median.

• Bajanai Koil Street: Rs 400 per sq.ft (2024)
• Bramanar Street: Rs 400 per sq.ft (2024)
• Chelliamman Nagar: Rs 500 per sq.ft (2024)
• Cine Production Assistant Nagar: Rs 500 per sq.ft (2024)
• Adhiparasakthi Nagar: Rs 400 per sq.ft (2024)
• Ganapathy Nagar: Rs 250 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Katrampakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered alongside the sale price to ensure that the appropriate fees are collected. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 65 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, remained the same until 2017, then increased to Rs 201 per sq.ft, and returned to Rs 300 per sq.ft in 2023 and 2024.

What are the other streets in Katrampakkam and their guideline values?

Other streets in Katrampakkam include Bajanai Koil Street and Bramanar Street, both at Rs 400 per sq.ft; Chelliamman Nagar and Cine Production Assistant Nagar at Rs 500 per sq.ft; Adhiparasakthi Nagar at Rs 400 per sq.ft; and Ganapathy Nagar at Rs 250 per sq.ft.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles property registrations in Balaji Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Balaji Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.