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 Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

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

The guideline value for New Balaji Nagar Barathiar Street has seen several revisions over the years. The earliest registered figure is from 2012, where it was Rs 900 per sq.ft. In 2017, the value decreased to Rs 603 per sq.ft, reflecting a drop of 33%. The value then rose significantly to Rs 900 per sq.ft in 2023, and further increased to Rs 990 per sq.ft in 2024, marking a 10% rise.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, and 2007.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that New Balaji Nagar Barathiar Street's 2024 figure of Rs 990 per sq.ft is below the median.

• 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 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, making the total fees together Rs 89,100. It is essential 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 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value at which properties can be registered. When you buy or sell property, the registration office uses this value to calculate the stamp duty and registration fees applicable to the transaction.

It is important for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of New Balaji Nagar Barathiar Street?

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 is the land classification for New Balaji Nagar Barathiar Street?

New Balaji Nagar Barathiar Street is classified as Residential Class I Type - II.

What are the guideline values for other streets in Sattamangalam?

Other streets in Sattamangalam have guideline values ranging from Rs 440 to Rs 2,200 per sq.ft, with a median of Rs 1,100 per sq.ft.

Where is the Sub Registrar Office for New Balaji Nagar Barathiar Street located?

The Sub Registrar Office for New Balaji Nagar Barathiar Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.