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 Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value for Balaji Nagar has seen various revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 201 per sq.ft. The guideline value then rose significantly to Rs 300 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The jump from 2012 to 2017 represented a decrease of 33%, while the increase from 2007 to 2012 was 50%. Overall, from 2007 to 2024, the guideline value has increased by 50%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, placing Balaji Nagar's 2024 figure above this median.

• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 210 per sq.ft (2024)
• Benzigar Nagar: Rs 250 per sq.ft (2024)
• Bhagavathy Nagar: Rs 210 per sq.ft (2024)
• Bharathi Nagar: Rs 210 per sq.ft (2024)
• Asina nagar: Rs 210 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 300 per sq.ft, the 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, totaling Rs 27,000. It is important to note that 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 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 Nemili

The guideline value plays a crucial role in the registration process when buying or selling property in Nemili. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the fees are calculated based on the appropriate value. This helps maintain transparency and standardization in property transactions within the area.

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 several times, with the most recent revisions being Rs 300 per sq.ft in both 2023 and 2024, compared to Rs 201 per sq.ft in 2017 and Rs 200 per sq.ft in 2007.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

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

How is stamp duty calculated for property transactions in Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft would incur a total stamp duty and registration fee of Rs 27,000.