Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur Sub Registrar Office (SRO), classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 850 per sq.ft in 2012. However, this value decreased to Rs 569 per sq.ft in 2017, before rising again to Rs 850 per sq.ft in 2023. The current 2024 revision marks a further increase to Rs 935 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 274%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, which is the same as the guideline value for Balaji Nagar.

• Bakthavatchalam Nagar: Rs 1,210 per sq.ft (2024)
• Ayaan City: Rs 800 per sq.ft (2024)
• A.S.R. City: Rs 880 per sq.ft (2024)
• Annappan Nagar: Rs 935 per sq.ft (2024)
• Chinthamani Nagar: Rs 880 per sq.ft (2024)
• Anbu Nagar: Rs 935 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 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total charges to Rs 84,150. Please 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 Kunrathur Sub Registrar Office covers Balaji Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Malayambakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government collects appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and fairness in property dealings, as the guideline value is regularly updated based on market conditions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 935 per sq.ft in 2024, reflecting an overall increase of 274% over these years.

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

For a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450 and the registration fee would be Rs 18,700, totaling Rs 84,150.

Which office handles property registrations in Balaji Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Balaji Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, reflecting current market conditions.