Guideline Value for Balaji nagar

Balaji nagar guideline value

The current guideline value of Balaji nagar, located in Nallur village, is Rs 250 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification. The property is registered with the Sriperumpudur Sub Registrar Office (SRO).

How the guideline value of Balaji nagar has changed

The guideline value of Balaji nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, reflecting a decline of 33%. However, from 2017 to the 2023 revision, the value increased by 50% to Rs 250 per sq.ft. The 2024 revision also maintains this value at Rs 250 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the guideline values from 2012 to 2024 shows no net change, as the value has remained at Rs 250 per sq.ft in the last two revisions.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 126 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which aligns with the guideline value of Balaji nagar.

• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Chelladurai Garden: Rs 175 per sq.ft (2024)
• Dharmasastha Nagar: Rs 350 per sq.ft (2024)
• Akshaya Boomi Lake View: Rs 450 per sq.ft (2024)
• HiTech City: Rs 175 per sq.ft (2024)
• Indira Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji nagar?

The Balaji nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of properties in Nallur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Additionally, the guideline value serves as a benchmark for property transactions, ensuring that the sale price is aligned with the officially recognized value. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Balaji nagar?

The current guideline value of Balaji nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Balaji nagar?

Balaji nagar is classified as Residential Special Type - I.

Where can I find the Sriperumpudur Sub Registrar Office?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Balaji nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft incurs a stamp duty of Rs 17,500.