Guideline Value for Balaji Street

Balaji Street guideline value

The current guideline value of Balaji Street in Kodungaiyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class II Type - I.

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 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the 2023 revision increased it back to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision.

From 2023 to 2024, there was a notable increase of 10%. The jump from 2017 to 2023 represented a significant rise of 49%. In contrast, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Balaji Street's 2024 figure below that median.

• Balakrishnan Street (Krishanmoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Balaji Nagar (Goyathoppu): Rs 2,700 per sq.ft (2024)
• Balakrishna Street: Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, calculated at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the state. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Balaji Street?

Balaji Street is classified as Residential Class II Type - I under the Madhavaram SRO.

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

For a 1,000 sq.ft property, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Balaji Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.