Guideline Value for New Balaji Nagar 4th Street

New Balaji Nagar 4th Street guideline value

The current guideline value for New Balaji Nagar 4th 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 4th Street has changed

The guideline value for New Balaji Nagar 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,700 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,900 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a modest increase of 7%. The jump from Rs 1,809 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2023 represents a significant increase of 49%. It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, which means that the guideline value for New Balaji Nagar 4th Street is above that median.

• New Balaji Nagar 3rd Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 5th Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar 1st Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar: 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 4th 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 at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost to Rs 2,61,000. 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 4th Street?

The Sub Registrar Office that covers New Balaji Nagar 4th 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, in the Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, buyers and sellers must consider the guideline value to ensure compliance with local regulations. It is essential to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for New Balaji Nagar 4th Street?

The current guideline value for New Balaji Nagar 4th 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 increased from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024. It was Rs 1,809 per sq.ft in 2017, showing a significant increase of 49% to the 2023 figure.

What is the land classification for New Balaji Nagar 4th Street?

New Balaji Nagar 4th Street is classified as Residential Special Type - I.

What are the registration fees for a property in New Balaji Nagar 4th Street?

The registration fee for a property is calculated based on the guideline value. For a plot valued at Rs 29,00,000, the registration fee would be Rs 58,000 at 2%.

Where can I find the Sub Registrar Office for New Balaji Nagar 4th Street?

The Selaiyur Sub Registrar Office covers New Balaji Nagar 4th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.