Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street is 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 figure is from 2007, with a guideline value of Rs 460 per sq.ft. This increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 357%. However, the value decreased to Rs 1,407 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 set the value at Rs 2,100 per sq.ft, and the most recent revision in 2024 has increased it to Rs 2,310 per sq.ft, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 402%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which matches the current guideline value for Balaji Nagar.

• Balaji Apartments: Rs 2,310 per sq.ft (2024)
• Bakthavachalam Street: Rs 2,310 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,650 per sq.ft (2024)
• Azagiri Nagar: Rs 2,640 per sq.ft (2024)
• Avvai Street: Rs 1,980 per sq.ft (2024)
• Bavani Emarald: Rs 2,310 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 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the 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 Perungalathur

The guideline value is an essential factor during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value aids in ensuring that the transaction is registered at a value that reflects the current market conditions, thus facilitating a fair registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 460 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 402% over the years.

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

For a property valued at Rs 23,10,000, the stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, totaling Rs 2,07,900.

Which office handles property registrations in Balaji Nagar?

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

What is the land classification of Balaji Nagar?

Balaji Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.