Guideline Value

Corporate

Guideline Value for SRI BALAJI NAGAR PHASE II

₹770/sq.ft.

The guideline value for Sri Balaji Nagar Phase Ii in Mepur village (Kunrathur SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mepur

Village

Kunrathur

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹700 /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)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Phase Ii

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Sri Balaji Nagar Phase II guideline value

The current guideline value of Sri Balaji Nagar Phase II is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Mepur village and falls under the Kunrathur SRO, 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 was Rs 700 per sq.ft in 2023, which increased to Rs 770 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 469 per sq.ft, which rose significantly to Rs 700 per sq.ft in 2012, showing a decrease of -33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by +10%. The changes reflect the evolving real estate landscape in the region, with the most notable increase occurring from 2017 to 2023, which saw a rise of +49%.

Guideline values in Mepur

In Mepur, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,955 per sq.ft. The median value among these streets is Rs 770 per sq.ft, which is equal to the guideline value of Sri Balaji Nagar Phase II.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mepur, as it determines the minimum value at which properties can be registered. When you buy or sell property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions adhere to the legal requirements set by the government.

During the registration process, buyers and sellers must consider the guideline value to ensure compliance with local regulations. This value is periodically revised, reflecting changes in the real estate market, and is essential for both parties to understand their financial obligations during a property transaction.

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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by +10%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total stamp duty and registration fee of Rs 69,300 based on the current guideline value.

Which office handles property registrations in Sri Balaji Nagar Phase II?

The Kunrathur Sub Registrar Office handles property registrations for Sri Balaji Nagar Phase II. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Balaji Nagar Phase II?

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