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

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

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

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

Over the years, the guideline value for New Balaji Nagar Barathiar Street has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased to Rs 900 per sq.ft in 2023 and further rose to Rs 990 per sq.ft in the 2024 revision. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

The changes between revisions reflect a varied trend. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value of New Balaji Nagar Barathiar Street.

• Nethaji Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,320 per sq.ft (2024)
• Nirmal Nagar (Per): Rs 440 per sq.ft (2024)
• Nvignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 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 would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total fees together Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Panangottur, as it determines the minimum value at which a property can be registered. This value is used by the registration department to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process relies on these values to ensure transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of 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 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the other streets in Panangottur with their guideline values?

Other streets in Panangottur include Nethaji Street and Nh2 Extension, both at Rs 1,320 per sq.ft, Nirmal Nagar at Rs 440 per sq.ft, and Nvignesh Nagar Ninnaikarai and Om Sakthi Street (Per) at Rs 660 per sq.ft.

What are the fees associated with buying property in New Balaji Nagar Barathiar Street (Ward -3)?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for New Balaji Nagar Barathiar Street (Ward -3)?

The Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.