Guideline Value for Balaji Street

Balaji Street guideline value

The current guideline value of Balaji Street in Selaiyur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Balaji Street has changed

Over the years, the guideline value of Balaji Street has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a rise of 167%. However, this value decreased to Rs 804 per sq.ft in the 2017 revision, a decline of 33%. The 2023 revision brought the value up to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,300 per sq.ft, reflecting an increase of 8% from the previous year.

The revisions for the years 2002 and 2003 do not have figures listed for Balaji Street in the register. Overall, from 2007 to 2024, the guideline value has increased by 189%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Balaji Street's 2024 figure is below this median.

• Barath Nagar: Rs 950 per sq.ft (2024)
• Balaji Nagar: Rs 2,400 per sq.ft (2024)
• Bethelpuram: Rs 950 per sq.ft (2024)
• Bethelpuram 1st Cross Street: Rs 950 per sq.ft (2024)
• Bethelpuram 1st Street: Rs 950 per sq.ft (2024)
• Bhagavath Singh Street: Rs 850 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Street?

The Sub Registrar Office that covers Balaji Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is documented at a fair price, reflecting the property's worth according to the local government's assessment. Buyers and sellers should be aware of the 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 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 189% over this period.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Balaji Street?

The Selaiyur Sub Registrar Office covers Balaji Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Balaji Street?

Balaji Street is classified as Residential Class III Type - II, indicating its designation for residential purposes.