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Guideline Value

Corporate

Guideline Value for SRI BALAJI NAGAR PART-I

₹440/sq.ft.

The guideline value for Sri Balaji Nagar Part-i in Sothupakkam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sothupakkam

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Balaji Nagar Part-i

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Sri Balaji Nagar Part-I guideline value

The current guideline value of Sri Balaji Nagar Part-I is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sothupakkam village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Balaji Nagar Part-I has changed

Over the years, the guideline value of Sri Balaji Nagar Part-I has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,150 per sq.ft. The median for these streets is Rs 440 per sq.ft, which is equal to the 2024 figure for Sri Balaji Nagar Part-I. The following are other streets in Sothupakkam:

Stamp duty and registration fee for property in Sri Balaji Nagar Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, together totaling Rs 39,600. 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 Nagar Part-I?

Sri Balaji Nagar Part-I falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sothupakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar Part-I?

The current guideline value of Sri Balaji Nagar Part-I is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Sri Balaji Nagar Part-I?

Sri Balaji Nagar Part-I is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Balaji Nagar Part-I?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles the registration for Sri Balaji Nagar Part-I?

The Redhills Sub Registrar Office handles the registration for Sri Balaji Nagar Part-I, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.