Guideline Value for SRI BALAJI NAGAR PHASE II

Sri Balaji Nagar Phase II guideline value

The current guideline value of Sri Balaji Nagar Phase II is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Agaram village, under the Thiruporur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Balaji Nagar Phase II has changed

Looking at the historical revisions, the guideline value for Sri Balaji Nagar Phase II has seen several changes. The 2012 revision set the value at Rs 200 per sq.ft, which was then followed by a decrease to Rs 134 per sq.ft in the 2017 revision, marking a -33% change. However, from 2017 to 2023, the value increased by 49% back to Rs 200 per sq.ft. The 2024 revision maintains this figure, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, there has been no net change in the guideline value.

Guideline values in Agaram

In Agaram, there are six streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 300 per sq.ft, with a median value of Rs 250 per sq.ft. Sri Balaji Nagar Phase II's guideline value is below this median.

• Sri Balaji Nagar Phase III: Rs 300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Vasantham Garden: Rs 300 per sq.ft (2024)
• Lake Town Avenue Extention: Rs 300 per sq.ft (2024)
• Annamalaiar Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar Phase II

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Balaji Nagar Phase II?

The Sub Registrar Office that covers Sri Balaji Nagar Phase II is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Agaram. It is used to calculate the stamp duty and registration fees that need to be paid when a property is sold or bought.

When a buyer approaches the registration office, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in determining the official worth of the property for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar Phase II?

The current guideline value of Sri Balaji Nagar Phase II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 200 per sq.ft in both 2023 and 2024. It was Rs 134 per sq.ft in 2017, which was an increase from Rs 200 per sq.ft in 2012.

What is the registration fee for properties in Sri Balaji Nagar Phase II?

The registration fee is calculated based on the guideline value. For a property valued at Rs 2,00,000, the registration fee at 2% would be Rs 4,000.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions. It ensures that all legal documents are properly recorded and that the appropriate fees are collected.

How is the stamp duty calculated in Agaram?

Stamp duty in Agaram is calculated based on the guideline value or the sale price, whichever is higher. For example, the stamp duty is 7% of the guideline value for properties in Sri Balaji Nagar Phase II.