Guideline Value for Balaji Street

Balaji Street guideline value

The current guideline value of Balaji Street in Gooduvancheri village, under the Gooduvancheri SRO, is Rs 2,001 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Balaji Street has changed

Over the years, the guideline value for Balaji Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is a slight increase from Rs 2,000 per sq.ft in 2023. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has also increased by 49%. The consistent rise reflects changes in the valuation process, but the 2023 to 2024 revision shows no change in the value.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Balaji Street's 2024 value above this median.

• Balarama Naidu Street: Rs 2,001 per sq.ft (2024)
• Bajanai kovil Street: Rs 1,200 per sq.ft (2024)
• Bharathidasan Street (Ward 14, 16): Rs 1,500 per sq.ft (2024)
• Bharathiyar Street: Rs 1,500 per sq.ft (2024)
• Avvaiyar Street (Ward 11, Ward 16): Rs 1,200 per sq.ft (2024)
• Chakarabani Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value amounts to Rs 20,01,000. The stamp duty, charged at 7%, would be Rs 1,40,070, and the registration fee, charged at 2%, would be Rs 40,020. Together, these fees would total Rs 1,80,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Street?

The Sub Registrar Office that covers Balaji Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Gooduvancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, reflecting a 49% increase overall during this period.

What is the land classification for Balaji Street?

Balaji Street is classified as Residential Special Type - II under the current guideline value regulations.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 20,01,000 would incur a stamp duty of Rs 1,40,070.