Guideline Value for balaji nagar

Balaji Nagar guideline value

The current guideline value of Balaji Nagar, located in Chettipunniyam village, is Rs 1,200 per sq.ft. This value is effective from the 2024 revision, which is managed by the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Balaji Nagar has changed

Over the years, the guideline value for Balaji Nagar has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which then increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, it decreased to Rs 804 per sq.ft in the 2017 revision before stabilizing at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The change from the 2012 revision to the 2017 revision was a decrease of 33%, while the jump from the 2007 revision to the 2012 revision was a notable increase of 500%. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value for Balaji Nagar is above this median.

• Azhagiri Nagar: Rs 700 per sq.ft (2024)
• Bhavani Nagar: Rs 1,200 per sq.ft (2024)
• Chennais Enclave: Rs 1,800 per sq.ft (2024)
• Daga Nagar: Rs 1,500 per sq.ft (2024)
• Ganesan Nagar: Rs 900 per sq.ft (2024)
• G.K. Avenue: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, resulting in a total of Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar?

The Sub Registrar Office that covers Balaji Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Chettipunniyam

The guideline value plays a crucial role during the registration process of property transactions in Chettipunniyam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is used to determine the official value of the property, which can affect the overall costs involved in the transaction. Buyers and sellers should be aware of the current guideline value to make informed decisions.

Frequently asked questions

What is the current guideline value of Balaji Nagar?

The current guideline value of Balaji Nagar is Rs 1,200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and stabilized at Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Balaji Nagar?

Balaji Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the other guideline values in Chettipunniyam?

Other streets in Chettipunniyam have varying guideline values, ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles all registrations for properties in Balaji Nagar.