Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in 44.Ayanambakkam village under the Konnur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised this to Rs 1,300 per sq.ft, marking an increase of 62% from the 2017 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, the guideline value increased by 8%. The rise from 2017 to 2023 was more substantial at 49%, reflecting a notable change in the valuation over the years.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median value is Rs 1,300 per sq.ft, which is the same as the current value for Balaji Nagar.

• Balaji Avenue: Rs 1,300 per sq.ft (2024)
• Balaji Nagar Balaji Street: Rs 1,300 per sq.ft (2024)
• Balaji Nagar Bharthidasan Street: Rs 1,300 per sq.ft (2024)
• Balaji Nagar Elango Nagar: Rs 1,300 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,300 per sq.ft (2024)
• Balaji Nagar Thiruvaluvar Steet: Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in 44.Ayanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the fees are based on an official valuation rather than the sale price alone. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62%.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Balaji Nagar?

The Konnur Sub Registrar Office handles the registration for Balaji Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.