Guideline Value for Balu Nagar

Balu Nagar guideline value

The current guideline value for Balu Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Athur B Block village under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Balu Nagar has changed

The guideline value for Balu Nagar has seen several revisions over the years. In the 2007 revision, the rate was Rs 245 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, it dropped to Rs 469 per sq.ft in the 2017 revision before remaining stable at Rs 700 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023 and no change from 2023 to 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 186%.

Guideline values in Athur B Block

Athur B Block has a total of 79 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value for this area is Rs 700 per sq.ft, which matches the current rate for Balu Nagar.

• Baskara Rao Avenue Extn-1: Rs 700 per sq.ft (2024)
• Baskar Rav Avenue: Rs 1,100 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• B.R.R. Nagar: Rs 1,000 per sq.ft (2024)
• Asmitha Garden: Rs 700 per sq.ft (2024)
• Ashmitha Gardens: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making a total of Rs 63,000. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balu Nagar?

The Sub Registrar Office that covers Balu Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value is a crucial factor during property registration in Athur B Block. It helps determine the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that the transaction is recorded accurately and transparently. This process is essential for both buyers and sellers to understand their financial obligations during the property transfer.

Frequently asked questions

What is the current guideline value for Balu Nagar?

The current guideline value for Balu Nagar is Rs 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 245 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft in both 2023 and 2024.

What is the median guideline value in Athur B Block?

The median guideline value in Athur B Block is Rs 700 per sq.ft, which is the same as the current guideline value for Balu Nagar.

What are the stamp duty rates for properties in Balu Nagar?

The stamp duty rate for properties in Balu Nagar is 7%, which is calculated based on the higher of the guideline value or the sale price of the property.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.