Guideline Value for THIRUMALAI BALAJI NAGAR

Thirumalai Balaji Nagar guideline value

The current guideline value of Thirumalai Balaji Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Thirumalai Balaji Nagar has changed

The guideline value for Thirumalai Balaji Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft. This increased to Rs 600 per sq.ft in 2012, followed by a decrease to Rs 402 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 600 per sq.ft, and the most recent 2024 revision raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 32%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO with guideline values ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Thirumalai Balaji Nagar's 2024 guideline value is below this median.

• Thiruvengadam Nagar: Rs 1,650 per sq.ft (2024)
• Thiruvengadam Nagar Extention: Rs 1,650 per sq.ft (2024)
• Swamy Ramadasar Street: Rs 660 per sq.ft (2024)
• Swamy Natesanar Madam Street: Rs 660 per sq.ft (2024)
• Thulukanathamman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumalai Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 details.

Which Sub Registrar Office covers Thirumalai Balaji Nagar?

The Sub Registrar Office that covers Thirumalai Balaji Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of ownership. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Thirumalai Balaji Nagar?

The current guideline value of Thirumalai Balaji Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Thirumalai Balaji Nagar?

The land classification for Thirumalai Balaji Nagar is Residential Class II Type - III.

Where can I find the Sub Registrar Office for Thirumalai Balaji Nagar?

The Sub Registrar Office for Thirumalai Balaji Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated in Thirumalai Balaji Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 660 per sq.ft would incur a total stamp duty of Rs 46,200.