Guideline Value for New Balaji Nagar Kannadasan 2nd Cross Street

New Balaji Nagar Kannadasan 2nd Cross Street guideline value

The current guideline value of New Balaji Nagar Kannadasan 2nd Cross Street is Rs 2,900 per sq.ft. 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 2nd Cross Street has changed

Over the years, the guideline value for New Balaji Nagar Kannadasan 2nd Cross Street has seen several revisions. The 2012 revision recorded a value of 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 significantly to Rs 2,700 per sq.ft in 2023, and then to the current Rs 2,900 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value. It is important to note that the register has no figures for the years 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, with a median value of Rs 2,200 per sq.ft. The guideline value for New Balaji Nagar Kannadasan 2nd Cross Street is above this median.

• New Balaji Nagar Kannadasan 1st Cross Street: Rs 2,900 per sq.ft (2024)
• New BalajiNagar Kannadasan 3rd Cross Street: Rs 2,900 per sq.ft (2024)
• New Balaji Nagar Ext: 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 2nd 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, making the total cost for these fees 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers New Balaji Nagar Kannadasan 2nd Cross Street?

The Sub Registrar Office that covers New Balaji Nagar Kannadasan 2nd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for New Balaji Nagar Kannadasan 2nd Cross Street?

The current guideline value for New Balaji Nagar Kannadasan 2nd 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, marking a 7% increase. 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 Kannadasan 2nd Cross Street?

The land classification for New Balaji Nagar Kannadasan 2nd Cross Street is Residential Special Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000, and the registration fee would be Rs 58,000, totaling Rs 2,61,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers New Balaji Nagar Kannadasan 2nd Cross Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.