Guideline Value for Balaji Nagar

Balaji Nagar guideline value

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

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has remained consistent at Rs 300 per sq.ft for both the 2023 and 2024 revisions. Prior to this, the 2017 revision recorded a guideline value of Rs 201 per sq.ft, marking a significant increase of 49% from 2017 to 2023.

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

Guideline values in Katrampakkam B

In Katrampakkam B, there are 44 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 275 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 amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, leading to a total of Rs 27,000. 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 detailed calculations.

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 B

The guideline value is a crucial factor in the registration process of property transactions in Katrampakkam B. It determines the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

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 remained at Rs 300 per sq.ft for the 2023 and 2024 revisions. It was Rs 201 per sq.ft in the 2017 revision, showing a 49% increase overall from 2017 to 2024.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Balaji Nagar?

The Sub Registrar Office for Balaji Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at 7%.