Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value for Balaji Nagar, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Balaji Nagar has changed

The guideline value for Balaji Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023 and has now reached Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value for Balaji Nagar.

• Bangaru Radhakrishnan Street: Rs 2,200 per sq.ft (2024)
• Ayya Street: Rs 3,630 per sq.ft (2024)
• Beemeswarar Nagar: Rs 3,630 per sq.ft (2024)
• Arumuga Nayinar Colony: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 1,210 per sq.ft (2024)
• Arasan Avenue: Rs 2,750 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to 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. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mudichur. 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 compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value for Balaji Nagar?

The current guideline value for 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Balaji Nagar?

The land classification for Balaji Nagar is Residential Special Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same.

Where can I find the Sub Registrar Office for Balaji Nagar?

The Sub Registrar Office for Balaji Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.