Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 3,801 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. In 2002, the value was Rs 140 per sq.ft, which increased to Rs 170 per sq.ft in 2003, marking a 21% rise. The value then saw a significant jump to Rs 600 per sq.ft in 2007, an increase of 253%. Following this, the 2012 revision set the value at Rs 3,500 per sq.ft, which was a substantial increase of 483% compared to 2007. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 has brought the guideline value to Rs 3,801 per sq.ft, which is a 62% increase from the 2017 figure.

It is important to note that there is no figure available for the year 2023 for Balaji Nagar in the register. Overall, from 2002 to 2024, the guideline value has increased by 2,615%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Balaji Nagar is above this median.

• Balaji Nagar Extension: Rs 3,801 per sq.ft (2024)
• Ayyappan Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Barder Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Bashiyam Road (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Athi Sankarar Street (Sri Nagar Colony): Rs 2,700 per sq.ft (2024)
• Athechoodi Street: Rs 1,900 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 3,801 per sq.ft, the total guideline value would be Rs 38,01,000. The stamp duty at 7% would amount to Rs 2,66,070, while the registration fee at 2% would be Rs 76,020. Therefore, the total cost for stamp duty and registration would be Rs 3,42,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

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 SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately. This value is essential for calculating the applicable stamp duty and registration fees, which are mandatory for 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 stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the latest guidelines.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 3,801 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 140 per sq.ft to Rs 3,801 per sq.ft in 2024, an overall increase of 2,615%.

What is the land classification of Balaji Nagar?

The land classification for Balaji Nagar is Mixed Type - I, which indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for Balaji Nagar?

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.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,01,000, the stamp duty at 7% would be Rs 2,66,070.