Guideline Value for Balraj Nagar

Balraj Nagar guideline value

The current guideline value of Balraj Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Balraj Nagar has changed

Looking at the revisions, the guideline value for Balraj Nagar has seen significant changes over the years. In 2012, the value was Rs 2,900 per sq.ft, which decreased to Rs 1,943 per sq.ft in 2017. However, this was followed by a substantial increase to Rs 2,900 per sq.ft in 2023, and then to Rs 3,190 per sq.ft in 2024, marking a 10% rise from 2023 to 2024 and a 49% increase from 2017 to 2023. The register has no figure for this street in 2002, 2003, or 2007.

Overall, from 2012 to 2024, the guideline value increased by 10%. The fluctuations in value reflect the changing landscape of the area and the adjustments made in the guideline value register.

Guideline values in Madanandapuram

Madanandapuram has a total of 94 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, placing Balraj Nagar's 2024 figure below that median.

• Bell Nagar: Rs 3,520 per sq.ft (2024)
• Balaji Avenue: Rs 3,190 per sq.ft (2024)
• Bajanai Koil Street (West): Rs 3,190 per sq.ft (2024)
• Bajanai Koil Street (East): Rs 3,190 per sq.ft (2024)
• Bajanai Koil Mettu colony: Rs 3,190 per sq.ft (2024)
• Bajanai Koil Grama Natham: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Balraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, leading to a total of Rs 2,87,100. 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 Balraj Nagar?

The Sub Registrar Office that covers Balraj Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madanandapuram. It is used as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per the government regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with the legal requirements of property transactions in the area.

Frequently asked questions

What is the current guideline value of Balraj Nagar?

The current guideline value of Balraj Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification of Balraj Nagar?

Balraj Nagar is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Balraj Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 31,90,000 would incur a stamp duty of Rs 2,23,300 at 7%.