Guideline Value for NEW BALAJI NAGAR BARATHIAR STREET (WARD -3)

New Balaji Nagar Barathiar Street (Ward -3) guideline value

The current guideline value for New Balaji Nagar Barathiar Street (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of New Balaji Nagar Barathiar Street (Ward -3) has changed

The guideline value has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 900 per sq.ft. In 2017, it decreased to Rs 603 per sq.ft, marking a decline of 33%. However, by 2023, the value increased to Rs 900 per sq.ft, and in the latest revision for 2024, it rose again to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The significant jump from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023 represents a 49% increase. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making the current value for New Balaji Nagar Barathiar Street (Ward -3) below that median.

• Nethaji Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,321 per sq.ft (2024)
• Nirmal Nagar (Per): Rs 440 per sq.ft (2024)
• Nishanth Avenue: Rs 1,321 per sq.ft (2024)
• Nehru Nagar: Rs 550 per sq.ft (2024)
• Nvignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in New Balaji Nagar Barathiar Street (Ward -3)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. Please note that 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 further calculations.

Which Sub Registrar Office covers New Balaji Nagar Barathiar Street (Ward -3)?

The Sub Registrar Office that covers New Balaji Nagar Barathiar Street (Ward -3) 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 Ninna Karai

The guideline value is a critical factor in the registration process when buying or selling property in Ninna Karai. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the buyer and seller must refer to the guideline value to calculate the applicable fees. This value serves as a baseline, and the actual sale price cannot be lower than this amount for registration purposes.

Frequently asked questions

What is the current guideline value of New Balaji Nagar Barathiar Street (Ward -3)?

The current guideline value for New Balaji Nagar Barathiar Street (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 990 per sq.ft in 2024, with notable increases and decreases in between, including a drop to Rs 603 per sq.ft in 2017.

What is the land classification for New Balaji Nagar Barathiar Street?

New Balaji Nagar Barathiar Street (Ward -3) is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Chengleput Joint II Sub Registrar Office covers New Balaji Nagar Barathiar Street (Ward -3) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.