Guideline Value for Balaji street

Balaji street guideline value

The current guideline value of Balaji street in Sembiam village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji street has changed

The guideline value for Balaji street has seen several revisions over the years. In 2002, the value was Rs 294 per sq.ft, which increased to Rs 319 per sq.ft in 2003, marking a 9% rise. The value continued to grow significantly, reaching Rs 700 per sq.ft in 2007, an increase of 119%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial 257% increase from the previous revision. However, it then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%.

In 2023, the guideline value was Rs 2,500 per sq.ft, and it increased by 8% to Rs 2,700 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 818%. The register has no figures for the years not mentioned in this overview.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Balaji street.

• Balamurugan Street: Rs 2,700 per sq.ft (2024)
• Battachariyar Street: Rs 2,700 per sq.ft (2024)
• Bajanai Koil street: Rs 2,700 per sq.ft (2024)
• Badham Street: Rs 2,700 per sq.ft (2024)
• Azath Street: Rs 2,700 per sq.ft (2024)
• Ayyavu Grammi Street: 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji street?

The Sub Registrar Office that covers Balaji street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that these fees can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji street?

The current guideline value of Balaji street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 294 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 818% over this period.

What is the land classification for Balaji street?

Balaji street falls under the Residential Class I Type - I land classification.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000, leading to a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Balaji street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Balaji street.