Guideline Value for New Balaji Nagar 1st Street

New Balaji Nagar 1st Street guideline value

The current guideline value of New Balaji Nagar 1st Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of New Balaji Nagar 1st Street has changed

The guideline value for New Balaji Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from Rs 1,809 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the latest 2024 revision has raised it to Rs 2,900 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing New Balaji Nagar 1st Street above this median.

• New Balaji Nagar: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 3rd Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 4th Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 5th Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar Ext: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in New Balaji Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty is charged at 7%, amounting to Rs 2,03,000, and the registration fee is charged at 2%, amounting to Rs 58,000. Together, the total cost for stamp duty and registration fee would be Rs 2,61,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Balaji Nagar 1st Street?

The Sub Registrar Office that covers New Balaji Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration process of property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of New Balaji Nagar 1st Street?

The current guideline value of New Balaji Nagar 1st Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. It was Rs 2,700 per sq.ft in 2012 and Rs 1,809 per sq.ft in 2017, showing a significant increase over the years.

What are the registration fees for property in New Balaji Nagar 1st Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 29,00,000, the total fees would amount to Rs 2,61,000.

Which Sub Registrar Office is responsible for New Balaji Nagar 1st Street?

The Selaiyur Sub Registrar Office is responsible for New Balaji Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with New Balaji Nagar 1st Street's guideline value being above this median at Rs 2,900 per sq.ft.