Guideline Value for Balaji Street (Rajammal nagar)

Balaji Street (Rajammal nagar) guideline value

The current guideline value of Balaji Street (Rajammal nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Street (Rajammal nagar) has changed

Over the years, the guideline value of Balaji Street (Rajammal nagar) has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, between 2012 and 2017, there was a decrease to Rs 804 per sq.ft, which represents a decline of 33%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no recorded figures for Balaji Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 225%.

Guideline values in Ayappakkam

In Ayappakkam village, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, which aligns with the current value of Balaji Street (Rajammal nagar).

• Balammal 1st Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal 2nd Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal Street (bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balan Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Barathiyar Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street (Rajammal nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. 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 Street (Rajammal nagar)?

The Sub Registrar Office that covers Balaji Street (Rajammal nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that transactions are conducted at a value that reflects the prevailing market conditions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Street (Rajammal nagar)?

The current guideline value of Balaji Street (Rajammal nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 400 per sq.ft in 2007, rising to Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the land classification of Balaji Street (Rajammal nagar)?

Balaji Street (Rajammal nagar) falls under the Residential Class I Type - I land classification.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Balaji Street (Rajammal nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 91,000.