Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Oragadam village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. Starting from Rs 122 per sq.ft in 2002, it increased to Rs 132 per sq.ft in 2003, marking an 8% rise. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a 203% increase. In 2012, the guideline value was Rs 2,000 per sq.ft, which was a 400% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 2,000 per sq.ft, a notable increase of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1703%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Balaji Nagar is equal to this median.

• Bakya Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakyam Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakyalakshmi Street (Banu Nagar West): Rs 2,200 per sq.ft (2024)
• Bakthavatchalam Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Bakthavatchalam Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,600 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Oragadam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions reflect a fair value for the property being exchanged.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 122 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1703% over the years.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Special Type - II under the Ambattur SRO.

What are the stamp duty rates applicable in Balaji Nagar?

The stamp duty rate in Balaji Nagar is 7%, and the registration fee is 2% of 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 the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.