Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Selavoyal village under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and further rose to the current rate of Rs 1,900 per sq.ft in 2024. The register has no figures for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 20%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 27% in the guideline value per sq.ft.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Balaji Nagar is below this median.

• Balu Naicken Thottam: Rs 1,900 per sq.ft (2024)
• Arumuga Naicker Thottam Residents: Rs 1,900 per sq.ft (2024)
• Arasu Avenue: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 3rd 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 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is currently Rs 1,900 per sq.ft in 2024.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified under Residential Class III Type - I land classification.

What is the stamp duty rate in Balaji Nagar?

The stamp duty rate in Balaji Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.