Guideline Value for Balaji Street Extn., /VOC Nagar

Balaji Street Extn., /VOC Nagar guideline value

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

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

The guideline value has undergone several revisions since 2002. The values are as follows: 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%. In 2007, the value rose significantly to Rs 360 per sq.ft, a change of +55%. The 2017 revision saw a substantial increase to Rs 1,675 per sq.ft, representing a change of +365%. The value further increased to Rs 2,500 per sq.ft in 2023, with a change of +49%. The latest revision in 2024 brought the value to Rs 2,750 per sq.ft, with a change of +10%. Notably, the register has no figure for this street in 2012.

Overall, from 2002 to 2024, the guideline value has increased by +1235%. This significant rise reflects the changes in property valuation 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 guideline value is Rs 2,090 per sq.ft, placing Balaji Street Extn., /VOC Nagar above this median.

• Balaji Street /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)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street Extn., /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, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Street Extn., /VOC Nagar?

The Sub Registrar Office that covers Balaji Street Extn., /VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the transaction. The guideline value is set by the Registration Department and is regularly updated to reflect changes in property values.

When a property is sold, the buyer and seller must consider the guideline value to ensure that the necessary fees are calculated correctly. The fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Balaji Street Extn., /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 seen significant changes, increasing 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 other streets in Pammal with their guideline values?

Other streets in Pammal include Balakrishnan Street at Rs 1,760 per sq.ft, Balaraman Street/ Muthamazhi Nagar at Rs 2,475 per sq.ft, and Balasubramainum Street / Gandhi Nagar at Rs 2,475 per sq.ft, among others.

Where is the Sub Registrar Office for Balaji Street Extn., /VOC Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Balaji Street Extn., /VOC Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.