Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and 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. Starting from the 2002 revision, the value was Rs 228 per sq.ft, which increased to Rs 256 per sq.ft in 2003. From 2003 to 2007, there was a significant increase of 486%, bringing the value to Rs 1,500 per sq.ft. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, but this was followed by a decrease of 33% to Rs 3,015 per sq.ft in 2017. The 2023 revision set the value at Rs 4,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 4,950 per sq.ft, reflecting a 10% change from the previous year.

There are no figures available for the revisions in years other than those specified. The overall increase from 2002 to 2024 is 2071%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, and Balaji Nagar's 2024 figure is above this median.

• Balaji Colony Main Road: Rs 3,850 per sq.ft (2024)
• Balaji Colony 4th Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 3rd Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Balaji Colony 2nd Street: Rs 3,850 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 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost for these charges Rs 4,45,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office covering Balaji Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees during the sale or purchase of a property. The charges are based on the higher amount between the guideline value and the sale price, ensuring that the government receives appropriate dues from the transaction.

When registering a property, buyers and sellers must be aware of the current guideline value as it directly affects the financial obligations involved in the transaction. Accurate knowledge of these values can help in budgeting for the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 228 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 2071% over this period.

What is the stamp duty rate for properties in Balaji Nagar?

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

Where is the Sub Registrar Office for Balaji Nagar located?

The Sub Registrar Office for Balaji Nagar is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How many streets in Velachery have a guideline value?

There are 2,691 streets in Velachery under the Velacheri SRO that have a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft.