Guideline Value for SRI BALAJI NAGAR PART 1 TO V

Sri Balaji Nagar Part 1 To V guideline value

The current guideline value for Sri Balaji Nagar Part 1 To V is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village and falls under the Selaiyur SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Sri Balaji Nagar Part 1 To V has changed

The guideline value has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which was later revised to Rs 1,675 per sq.ft in 2017. This marked a decrease of 33%. Following that, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024, reflecting an increase of 8% from the previous year. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value.

For the years 2002, 2003, and 2007, the register has no figure for this street. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, which was a 49% increase from the 2017 figure. The current figure of Rs 2,700 per sq.ft aligns with the median value for the 117 streets in Vengaivasal under the Selaiyur SRO.

Guideline values in Vengaivasal

In Vengaivasal, the guideline values for the 117 streets under the Selaiyur SRO range from Rs 850 to Rs 4,800 per sq.ft, with the median value being Rs 2,700 per sq.ft. The guideline value for Sri Balaji Nagar Part 1 To V matches this median.

• Sri Balaji Nagar Part IV: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Siva Pooshnam Nagar Third Street: Rs 3,700 per sq.ft (2024)
• Siva Pooshnam Nagar: Rs 3,700 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Sri Raman Nagar: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar Part 1 To V

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balaji Nagar Part 1 To V?

The Sub Registrar Office that covers Sri Balaji Nagar Part 1 To V is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Vengaivasal. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the property transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations.

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

Frequently asked questions

What is the current guideline value for Sri Balaji Nagar Part 1 To V?

The current guideline value for Sri Balaji Nagar Part 1 To V is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Sri Balaji Nagar Part 1 To V?

The land classification for Sri Balaji Nagar Part 1 To V is Mixed Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.