Guideline Value for Balaji Street

Balaji Street guideline value

The current guideline value of Balaji Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Balaji Street has changed

The guideline value for Balaji Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and in the latest 2024 revision, it rose again to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes in the guideline value from 2012 to 2024 show an overall increase of 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Balaji Street in the register.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Balaji Street.

• Balakrishna nagar: Rs 1,980 per sq.ft (2024)
• Balakrishnan Street: Rs 1,650 per sq.ft (2024)
• Ballikuda 1st street: Rs 1,650 per sq.ft (2024)
• Ballikuda 2nd Street: Rs 1,650 per sq.ft (2024)
• Bangaru Kamatchi amman st: Rs 1,650 per sq.ft (2024)
• Barathi Dossan Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is crucial during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value of a property, ensuring that the sale price is not below the prescribed guideline value.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable increases in 2023 and 2017 revisions.

What are the other streets with similar guideline values in Peerklankaranai?

Other streets with similar guideline values include Balakrishnan Street, Ballikuda 1st street, Ballikuda 2nd Street, and Bangaru Kamatchi amman street, all valued at Rs 1,650 per sq.ft in 2024.

Where is the Tambaram Joint 1 SRO located?

The Tambaram Joint 1 SRO is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Balaji Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 16,50,000 incurs a stamp duty of Rs 1,15,500.