Guideline Value for VLC Balaji Nagar

VLC Balaji Nagar guideline value

The current guideline value of VLC Balaji Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of VLC Balaji Nagar has changed

The guideline value for VLC Balaji Nagar has undergone several revisions over the years. The earliest recorded value is from 2012, where it was Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017. In 2023, the value increased to Rs 900 per sq.ft again, and the latest revision in 2024 shows a further increase to Rs 990 per sq.ft.

Between these revisions, there have been notable changes. The guideline value rose by 49% from 2017 to 2023, and then increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the increase is 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value is Rs 880 per sq.ft, placing VLC Balaji Nagar's 2024 figure above this median.

• Vinayaga Nagar: Rs 440 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 990 per sq.ft (2024)
• Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Vetrimaran Nagar: Rs 670 per sq.ft (2024)
• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in VLC Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total charges Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VLC Balaji Nagar?

The Sub Registrar Office that covers VLC Balaji Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VLC Balaji Nagar?

The current guideline value of VLC Balaji Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 in 2012 to Rs 603 in 2017, then back to Rs 900 in 2023, and finally to Rs 990 in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for VLC Balaji Nagar?

VLC Balaji Nagar is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the other streets in Nandambakkam with their guideline values?

Other streets in Nandambakkam include Vinayaga Nagar at Rs 440 per sq.ft, Vijayalakshmi Nagar at Rs 990 per sq.ft, Vigneswara Nagar at Rs 770 per sq.ft, Vetrimaran Nagar at Rs 670 per sq.ft, Venkateswara Nagar Annexe at Rs 880 per sq.ft, and Venkateswara Nagar at Rs 880 per sq.ft.

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

The Padappai Sub Registrar Office covers VLC Balaji Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.