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 street is located in Nemili_B village, under the Sriperumpudur SRO, and is classified as Residential Class I 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 2017 revision set the value at Rs 201 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 300 per sq.ft. The most recent revision in 2024 maintained the same value of Rs 300 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase is also 49%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making Balaji Nagar's 2024 figure above this median.

• Bangaru Ammal Nagar: Rs 250 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 200 per sq.ft (2024)
• Benzigar Nagar: Rs 250 per sq.ft (2024)
• Bhagavathy Nagar: Rs 200 per sq.ft (2024)
• Bharathi Nagar: Rs 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 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, bringing the total fees to 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 further 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 Nemili_B

The guideline value is a crucial factor when buying or selling property in Nemili_B. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

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?

Since the 2017 revision, the guideline value has increased by 49% to Rs 300 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the registration fees for property transactions in Balaji Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balaji Nagar located?

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