Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value for Balaji Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II 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 earliest recorded revision is from 2012, where the value was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017, which marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for Balaji Nagar in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Naduveerapattu

Naduveerapattu village features 96 streets under the Padappai SRO, with a 2024 guideline value range from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Balaji Nagar's 2024 figure below this median.

• Ashok Brindhavanam: Rs 550 per sq.ft (2024)
• Ashok Brindavanam Phase - III: Rs 550 per sq.ft (2024)
• Ashok Brindavanam Phase - II: Rs 550 per sq.ft (2024)
• Bharathi Nagar: Rs 440 per sq.ft (2024)
• Arulappa Nagar: Rs 550 per sq.ft (2024)
• Anthonypuram: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is calculated at 7%, which totals Rs 30,800, and the registration fee is 2%, amounting to Rs 8,800. Together, these fees come to Rs 39,600. 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 more information.

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

The guideline value plays a crucial role in property transactions in Naduveerapattu. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - I.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 440 per sq.ft, the total fees would amount to Rs 39,600.

Which office handles registrations for Balaji Nagar?

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