Guideline Value for New Balaji Nagar 5th Street

New Balaji Nagar 5th Street guideline value

The current guideline value of New Balaji Nagar 5th 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 5th Street has changed

The guideline value for New Balaji Nagar 5th Street has seen several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in 2017. In 2023, the value increased to Rs 2,700 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,900 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Finally, the change from 2023 to 2024 reflects a 7% increase. 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 a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, placing New Balaji Nagar 5th Street above the median with its current guideline value of Rs 2,900 per sq.ft.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers New Balaji Nagar 5th Street?

The Sub Registrar Office that covers New Balaji Nagar 5th 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 for more details.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it influences the financial obligations of both parties. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of New Balaji Nagar 5th Street?

The current guideline value of New Balaji Nagar 5th 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 2012 to Rs 1,809 per sq.ft in 2017, then to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,900 per sq.ft in 2024.

What is the land classification for New Balaji Nagar 5th Street?

The land classification for New Balaji Nagar 5th Street is Residential Special Type - I.

What is the median guideline value for streets in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, and New Balaji Nagar 5th Street's value is above this median.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.