Guideline Value for New Balaji Nagar Kannadasan 1st Cross Street

New Balaji Nagar Kannadasan 1st Cross Street guideline value

The current guideline value for New Balaji Nagar Kannadasan 1st Cross 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 Kannadasan 1st Cross Street has changed

The guideline value for New Balaji Nagar Kannadasan 1st Cross Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,700 per sq.ft. This figure decreased to Rs 1,809 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 2,700 per sq.ft in 2023, followed by a further rise to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 7% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

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 in this area is Rs 2,200 per sq.ft, placing New Balaji Nagar Kannadasan 1st Cross Street above this median at Rs 2,900 per sq.ft.

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

Stamp duty and registration fee for property in New Balaji Nagar Kannadasan 1st Cross 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 to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers New Balaji Nagar Kannadasan 1st Cross 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 in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for New Balaji Nagar Kannadasan 1st Cross Street?

The current guideline value for New Balaji Nagar Kannadasan 1st Cross 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, an increase of 7%. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

What is the land classification for this street?

New Balaji Nagar Kannadasan 1st Cross Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering New Balaji Nagar Kannadasan 1st Cross Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 at 7%.