Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value of Balaji Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 90 per sq.ft, which increased to Rs 1,273 per sq.ft in 2017, marking a substantial increase of 1314%. The value further rose to Rs 1,900 per sq.ft in 2023, representing a 49% increase from the previous revision. The latest revision in 2024 sets the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 2222%.

Guideline values in Noombal

Noombal village has 164 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, which is equal to the current value for Balaji Nagar.

• Balaji Nagar Main Road: Rs 2,090 per sq.ft (2024)
• Balamurugan Nagar: Rs 2,090 per sq.ft (2024)
• Ashok Residency Main Road: Rs 2,090 per sq.ft (2024)
• Ashok Nandavanam II: Rs 2,090 per sq.ft (2024)
• Ashok Nandavanam: Rs 2,090 per sq.ft (2024)
• Brindavan Nagar: Rs 2,090 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 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, while the registration fee at 2% would be Rs 41,800, bringing the total amount for these charges to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 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 Noombal

When buying or selling property in Noombal, the guideline value is a critical factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the state receives the appropriate revenue from property transactions.

Additionally, the guideline value helps establish a standard for property transactions in the area, providing transparency and consistency in the registration process. Buyers and sellers must be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly from Rs 90 per sq.ft to Rs 2,090 per sq.ft in 2024, marking an overall increase of 2222%.

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

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

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.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Special Type - I, which is important for understanding the property's use and potential regulations.