Guideline Value for Balaji nagar

Balaji nagar guideline value

The current guideline value of Balaji Nagar, located in Adambakkam village, is Rs 3,900 per sq.ft, effective from 1 July 2024. This property falls under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Balaji nagar has changed

The guideline value for Balaji Nagar has seen several revisions over the years. In 2002, the value was Rs 330 per sq.ft, which increased to Rs 376 per sq.ft in 2003, reflecting a change of +14%. The value experienced a significant rise to Rs 1,250 per sq.ft in 2007, marking an increase of +232%. By 2012, the guideline value was Rs 3,500 per sq.ft, indicating a remarkable growth of +180%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of -33%. The value then rose to Rs 3,500 per sq.ft in 2023, and most recently, it has been revised to Rs 3,900 per sq.ft in 2024, reflecting an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +1082%. The register has no figures for the years not mentioned in this overview.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median set at Rs 3,900 per sq.ft. The guideline value for Balaji Nagar aligns with this median.

• Balaji Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 15th Street: Rs 3,900 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji nagar?

The Sub Registrar Office that covers Balaji Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Adambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process is transparent and standardized. Buyers and sellers must consider this value to understand the financial implications of the transaction.

When a property is sold, the guideline value is used to calculate stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value rather than potentially inflated sale prices.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 330 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1082% over this period.

What are the stamp duty and registration fees for property in Balaji Nagar?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Balaji Nagar?

The Alandur Sub Registrar Office handles registrations for Balaji Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Class I Type - III, indicating its suitability for residential purposes.