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 locality is situated in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Balaji Nagar has changed

The guideline value of Balaji Nagar has experienced several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 201 per sq.ft. The value then rose to Rs 300 per sq.ft in 2023, remaining unchanged in the 2024 revision.

Between 2017 and 2023, the guideline value increased by 49%, and from 2007 to 2024, it has seen an overall increase of 200%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO, with guideline values ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value in the village is Rs 800 per sq.ft, placing Balaji Nagar's 2024 figure below this median.

• Bazar Street: Rs 1,500 per sq.ft (2024)
• Ayya Thandavaraya Chetty Street: Rs 1,500 per sq.ft (2024)
• Ayya Dhurai Nayudu Street: Rs 1,200 per sq.ft (2024)
• Astalakshmi Homes: Rs 1,000 per sq.ft (2024)
• Asaiya Nagar: Rs 905 per sq.ft (2024)
• Arunachalapillai Chathiram Kalani: Rs 700 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 is charged at 7%, totaling Rs 21,000, and the registration fee at 2% amounts to Rs 6,000. Together, the total cost for stamp duty and registration fees would be 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 details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Uthiramerur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value acts as a benchmark for the minimum price at which properties can be registered.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in 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 from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Uthiramerur?

The median guideline value in Uthiramerur is Rs 800 per sq.ft, which is higher than the current guideline value of Balaji Nagar.

What are the registration fees for property in Balaji Nagar?

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

Where is the Sub Registrar Office for Balaji Nagar located?

The Sub Registrar Office for Balaji Nagar is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.