Guideline Value for Balaji nagar (140,143,144/1,98,100)

Balaji nagar (140,143,144/1,98,100) guideline value

The current guideline value for Balaji nagar (140,143,144/1,98,100) is Rs 1,100 per sq.ft, effective from the 2024 revision. This locality is situated in Thirumazhisai village, under the Poonamallee SRO, and is classified as Residential Special Type - I.

How the guideline value of Balaji nagar (140,143,144/1,98,100) has changed

The guideline value for Balaji nagar has seen several revisions over the years. In 2002, the value was Rs 73 per sq.ft, which increased to Rs 88 per sq.ft in 2003. The value then rose significantly to Rs 150 per sq.ft in 2007, followed by a substantial jump to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017, before increasing to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft.

From 2017 to 2023, there was a 49% increase in the guideline value, while the jump from 2023 to 2024 is 10%. The earlier revisions show a significant rise from 2007 to 2012 at 567%, and a 70% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1,407%.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Balaji nagar is below this median.

• Balajinagar 100/1,100/2A: Rs 1,100 per sq.ft (2024)
• Athukkal street: Rs 1,100 per sq.ft (2024)
• A.S.R In Papa City: Rs 1,320 per sq.ft (2024)
• A.S.R City: Rs 1,320 per sq.ft (2024)
• Bharathi nagar: Rs 1,100 per sq.ft (2024)
• Bharathi nagar vistharippu: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji nagar (140,143,144/1,98,100)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Balaji nagar (140,143,144/1,98,100)?

The Sub Registrar Office that covers Balaji nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. To find your specific SRO, you can find your SRO here.

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

The guideline value is a crucial factor when registering property transactions in Thirumazhisai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing the sale price, as the stamp duty is charged on the higher of the guideline value or the actual sale price. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Balaji nagar?

The current guideline value for Balaji nagar (140,143,144/1,98,100) is Rs 1,100 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 73 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 1,407% over the years.

What are the stamp duty rates for property transactions in Balaji nagar?

The stamp duty for property transactions in Balaji nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Balaji nagar?

The Poonamallee Sub Registrar Office handles registrations for Balaji nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the median guideline value in Thirumazhisai?

The median guideline value in Thirumazhisai is Rs 1,320 per sq.ft, while the guideline value for Balaji nagar is below this median at Rs 1,100 per sq.ft.