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 street is located in Mangadu -A village and falls under the Kunrathur SRO, classified as Residential Special 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 set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The current value of Rs 2,200 per sq.ft, effective from 1 July 2024, represents a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, showcasing a substantial rise in the guideline value over this period.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. Balaji Nagar's current guideline value is above this median.

• Balaji Avenue: Rs 1,870 per sq.ft (2024)
• BalajiNagar 2: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street Vannier pattu: Rs 1,540 per sq.ft (2024)
• Bajanai Koil Street Ragunathapuram: Rs 1,540 per sq.ft (2024)
• Balamurugan Nagar: Rs 2,200 per sq.ft (2024)
• Balandeeswarar Koil Street: Rs 2,200 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

Balaji Nagar is covered by the Kunrathur Sub Registrar Office 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 Mangadu -A

The guideline value plays a crucial role during the registration process when buying or selling property in Mangadu -A. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with the local regulations.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This helps in maintaining transparency and fairness in property transactions.

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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a 64% rise overall.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Special Type - I under the current land classification.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Balaji Nagar?

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