Guideline Value for Rajaji Nagar Extension Balaji Street

Rajaji Nagar Extension Balaji Street guideline value

The current guideline value of Rajaji Nagar Extension Balaji Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Rajaji Nagar Extension Balaji Street has changed

The guideline value for Rajaji Nagar Extension Balaji Street has seen several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 410 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before climbing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 9%. Notably, the value saw a substantial increase of 338% from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 905%. There are no figures for revisions in years other than those specified.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the current guideline value of Rajaji Nagar Extension Balaji Street.

• Rajaji Nagar Extension and Streets: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Bharathiar Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Ganga Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Gokul Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Jaganathan Street: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar Extension Kalamegam Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar Extension Balaji Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Nagar Extension Balaji Street?

The Sub Registrar Office that covers Rajaji Nagar Extension Balaji Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Konnur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with the regulations set by the Registration Department.

When registering a property, the guideline value serves as a benchmark for calculating the fees. It is essential for both parties in a transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Nagar Extension Balaji Street?

The current guideline value of Rajaji Nagar Extension Balaji Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 378 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting a total increase of 905% over the years.

What is the land classification for Rajaji Nagar Extension Balaji Street?

Rajaji Nagar Extension Balaji Street is classified as Residential Class II Type - I.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.