Guideline Value for Balaji Nagr 4th Street

Balaji Nagr 4th Street guideline value

The current guideline value of Balaji Nagr 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balaji Nagr 4th Street has changed

The guideline value for Balaji Nagr 4th Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 330 per sq.ft. This figure increased to Rs 376 per sq.ft in 2003, marking a 14% rise. The value then saw significant increases, reaching Rs 1,220 per sq.ft in 2007, which was a 224% increase from the previous revision. Following this, the value rose to Rs 3,500 per sq.ft in 2012, reflecting a 187% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, showing an 11% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,082%. There are no figures available for other revisions for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Balaji Nagr 4th Street.

• Balaji Nagar Part 2: Rs 3,900 per sq.ft (2024)
• Balaji Nagar Part 1: Rs 3,900 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Balaji Nagar First Street Part 1: Rs 3,900 per sq.ft (2024)
• Balakrishna Puram: Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 1st Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagr 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagr 4th Street?

Balaji Nagr 4th Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a critical factor when registering a property in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. The stamp duty is calculated based on this value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagr 4th Street?

The current guideline value of Balaji Nagr 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,082% over this period.

What are the stamp duty rates for properties in Balaji Nagr 4th Street?

The stamp duty for properties in Balaji Nagr 4th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Balaji Nagr 4th Street?

The Alandur Sub Registrar Office handles the registration for Balaji Nagr 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Balaji Nagr 4th Street?

Balaji Nagr 4th Street is classified as Residential Class I Type - III according to the local regulations.