Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - II land classification.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value for Balaji Nagar has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 737 per sq.ft. The value increased to Rs 1,100 per sq.ft in 2023 and then rose to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 9%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Balaji Nagar is below this median.

• Bajanai Kovil Street: Rs 1,600 per sq.ft (2024)
• Balavinayagar Kovil Street: Rs 2,200 per sq.ft (2024)
• Balavinayagar Kovil Street (Pelavarai): Rs 2,200 per sq.ft (2024)
• Ayyappan Nagar Annex: Rs 1,900 per sq.ft (2024)
• Ayyappa Nagar: Rs 1,900 per sq.ft (2024)
• Barathi Nagar: Rs 1,400 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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. To find your specific SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthagaram. It serves as a benchmark for determining 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 appropriate taxes are levied. Buyers must be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Balaji Nagar?

Balaji Nagar falls under Residential Class IV Type - II land classification.

Where can I find the Ambattur Sub Registrar Office?

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

How is the stamp duty calculated for properties in Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.