Guideline Value for Balaji Street /VOC Nagar

Balaji Street /VOC Nagar guideline value

The current guideline value of Balaji Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Balaji Street /VOC Nagar has changed

The guideline value for Balaji Street /VOC Nagar has seen significant changes over the years. In 2002, the value was Rs 206 per sq.ft, which increased to Rs 233 per sq.ft in 2003, marking a change of +13%. The value then rose to Rs 360 per sq.ft in 2007, reflecting a substantial increase of +55%. By 2017, the guideline value had jumped to Rs 1,675 per sq.ft, a remarkable increase of +365%. The 2023 revision set the value at Rs 2,500 per sq.ft, which was a +49% increase from the previous revision. The current guideline value of Rs 2,750 per sq.ft, effective from 1 July 2024, represents a further increase of +10% from 2023.

It is important to note that there is no figure available for Balaji Street /VOC Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by +1235%, reflecting the changes in the property market over the years.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Balaji Street /VOC Nagar's 2024 guideline value above this median.

• Balaji Street Extn., /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Balakrishnan Street: Rs 1,760 per sq.ft (2024)
• Balaraman Street/ Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Balasubramainum Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Balasubramani Street, Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Baskaran Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street /VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees total Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Street /VOC Nagar?

The Sub Registrar Office that covers Balaji Street /VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value can significantly impact the overall cost of the transaction.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This ensures that all parties are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Balaji Street /VOC Nagar?

The current guideline value of Balaji Street /VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 206 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of +1235% over the years.

What are the stamp duty and registration fees for properties in Balaji Street /VOC Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Balaji Street /VOC Nagar?

The Pammal Sub Registrar Office handles registrations for Balaji Street /VOC Nagar. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the financial obligations are clear for both buyers and sellers.