Guideline Value

Corporate

Guideline Value for NEW BALAJI NAGAR

₹330/sq.ft.

The guideline value for New Balaji Nagar in Athipattu village (Thiruvottiyur SRO, Chennai zone) is Rs 330 per sq.ft, effective 1 July 2024. It was Rs 300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Athipattu

Village

Thiruvottiyur

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹330 /sq.ft.
From 1-4-2023 ₹300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹201 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019
044-25992232
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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, located in Athipattu village under the Thiruvottiyur SRO, is Rs 330 per sq.ft. This value is effective from the 2024 revision, which commenced on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of New Balaji Nagar has changed

The guideline value for New Balaji Nagar has seen several revisions over the years. In the 2017 revision, the value was Rs 201 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 462 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the current guideline value for New Balaji Nagar. This positions New Balaji Nagar at the median value within the village.

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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is calculated at 7%, which totals Rs 23,100, while the registration fee is 2%, amounting to Rs 6,600. Therefore, the total cost for stamp duty and registration fee together is Rs 29,700. It is important 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 more detailed calculations.

Which Sub Registrar Office covers New Balaji Nagar?

The Sub Registrar Office that covers New Balaji Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Athipattu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is the minimum value at which the property can be registered.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. If the sale price is higher than the guideline value, the stamp duty will be charged based on the sale price instead. This ensures that the government receives the 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 330 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 3,30,000. The stamp duty is Rs 23,100, and the registration fee is Rs 6,600, making the total cost for these fees Rs 29,700.

Which office handles registrations for New Balaji Nagar?

The Thiruvottiyur Sub Registrar Office is responsible for handling registrations in New Balaji Nagar. It is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined for properties in Athipattu?

The guideline value in Athipattu is determined by the Registration Department's guideline value register. It reflects the minimum value for property transactions and is used to calculate stamp duty and registration fees.