Guideline Value for SRI BALAJI AVENUE

Sri Balaji Avenue guideline value

The current guideline value of Sri Balaji Avenue in Salamangalam village is Rs 1,500 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sriperumpudur Sub Registrar Office and is classified as Mixed Special Type - III.

How the guideline value of Sri Balaji Avenue has changed

The guideline value for Sri Balaji Avenue has undergone several revisions over the years. In 2017, the value was set at Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, reflecting a significant increase of 150% from 2017 to 2023 and also from 2017 to 2024. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From the 2023 revision to the 2024 revision, the guideline value remained unchanged at Rs 1,500 per sq.ft, indicating a stable valuation in recent times. Overall, the guideline value has increased by 150% from 2017 to 2024, showcasing a substantial rise in the property’s valuation over the years.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Sri Balaji Avenue is notably above this median.

• Sri Durgai Sidhar Nagar: Rs 550 per sq.ft (2024)
• Sri Ganapathy Nagar Colony: Rs 300 per sq.ft (2024)
• Sri Ganapathy Nagar Colony Extn: Rs 300 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Rama Anjineya Garden: Rs 600 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost to Rs 1,35,000. 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 Sri Balaji Avenue?

The Sub Registrar Office that covers Sri Balaji Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Salamangalam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Balaji Avenue?

The current guideline value of Sri Balaji Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Balaji Avenue has increased from Rs 600 per sq.ft in 2017 to Rs 1,500 per sq.ft in both 2023 and 2024, marking a 150% increase overall from 2017 to 2024.

What is the land classification of Sri Balaji Avenue?

Sri Balaji Avenue is classified as Mixed Special Type - III, which indicates its zoning and usage regulations.

Where is the Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.