Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - II land classification.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 99 per sq.ft. This figure increased to Rs 135 per sq.ft in 2003, marking a change of +36%. The subsequent revision in 2007 saw a significant increase to Rs 400 per sq.ft, reflecting a change of +196%. In 2012, the value was again revised to Rs 1,000 per sq.ft, which was a +150% increase from the previous figure.

From 2012 to 2017, the guideline value decreased to Rs 670 per sq.ft, a change of -33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 set it at Rs 1,100 per sq.ft, marking a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +1011%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Balaji Nagar is below this median.

• Balaji Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Balammal 1st Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal 2nd Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balan Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Ayyappa Nagar Anex: Rs 1,700 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue based on the property's assessed value or the actual sale price.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 99 in 2002 to Rs 1,100 in 2024. Notable changes include an increase to Rs 135 in 2003 and a significant rise to Rs 400 in 2007.

What is the land classification for Balaji Nagar?

Balaji Nagar falls under Residential Class I Type - II land classification, indicating its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Balaji Nagar located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.