Guideline Value

Corporate

Guideline Value for NEW BALAJI NAGAR

₹1320/sq.ft.

The guideline value for New Balaji Nagar in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 1320 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹1320 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹100 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹81 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Balaji Nagar

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New Balaji Nagar guideline value

The current guideline value of New Balaji Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class IV Type - II.

How the guideline value of New Balaji Nagar has changed

The guideline value for New Balaji Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 81 per sq.ft, which increased to Rs 100 per sq.ft in 2003. Following this, the value rose sharply to Rs 400 per sq.ft in 2007, marking a 300% increase. In 2012, the value was Rs 1,200 per sq.ft, but it dropped by 33% to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, and as of 2024, it stands at Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,530%. There are no figures available for the years not listed in the register for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing New Balaji Nagar's 2024 figure below the median.

Stamp duty and registration fee for property in New Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Balaji Nagar?

The Sub Registrar Office that covers New Balaji Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value as it directly influences the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Balaji Nagar?

The current guideline value of New Balaji Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 81 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,530% over this period.

What are the stamp duty and registration fees in New Balaji Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for New Balaji Nagar?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in New Balaji Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for property registration, influencing the stamp duty and registration fees. It ensures that transactions are recorded at a fair value, promoting transparency in the real estate market.