Guideline Value for Balaji Nagar

Balaji Nagar guideline value

The current guideline value for Balaji Nagar, located in Sholinganallur - 1 village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Balaji Nagar has changed

The guideline value register for Balaji Nagar shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,200 per sq.ft.

There have been no changes between the revisions listed above. The 2024 revision figure of Rs 2,200 per sq.ft is consistent with the median value for other streets in Sholinganallur - 1.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Balaji Nagar's 2024 figure aligns with this median.

• Balachandra Builder Park: Rs 2,200 per sq.ft (2024)
• Bakkingam Canal Road: Rs 1,700 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Balakrishnan Street: Rs 2,200 per sq.ft (2024)
• Babu Street: Rs 2,200 per sq.ft (2024)
• Balamurugan Thottam: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process for property transactions in Sholinganallur - 1. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

What is the land classification for Balaji Nagar?

Balaji Nagar falls under the Residential Class II Type - III land classification.

Have there been any changes in the guideline value for Balaji Nagar?

There have been no changes in the guideline value for Balaji Nagar between the revisions listed. The most recent figure is Rs 2,200 per sq.ft for 2024.

How is stamp duty calculated for properties in Balaji Nagar?

Stamp duty for properties in Balaji Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

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

The Sub Registrar Office for Balaji Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.