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Guideline Value

Corporate

Guideline Value for SRI BALAJI NAGAR WEST 2nd MAIN ROAD

₹2100/sq.ft.

The guideline value for Sri Balaji Nagar West 2nd Main Road in Korattur village (Villivakkam SRO, Chennai zone) is Rs 2100 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 5% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Korattur

Village

Villivakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2100 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
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)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[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 West 2nd Main Road

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SRI BALAJI NAGAR WEST 2nd MAIN ROAD guideline value

The current guideline value of SRI BALAJI NAGAR WEST 2nd MAIN ROAD is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of SRI BALAJI NAGAR WEST 2nd MAIN ROAD has changed

The guideline value for SRI BALAJI NAGAR WEST 2nd MAIN ROAD has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and further increased to Rs 2,100 per sq.ft in 2024, reflecting a 5% increase.

There are no figures available for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 250%, demonstrating significant changes over the years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that SRI BALAJI NAGAR WEST 2nd MAIN ROAD's 2024 figure is below the median.

Stamp duty and registration fee for property in SRI BALAJI NAGAR WEST 2nd MAIN ROAD

For a 1,000 sq.ft plot at the current rate of Rs 2,100 per sq.ft, the guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, totaling Rs 1,89,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers SRI BALAJI NAGAR WEST 2nd MAIN ROAD?

The SRI BALAJI NAGAR WEST 2nd MAIN ROAD falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value influences the stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, affecting the total expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of SRI BALAJI NAGAR WEST 2nd MAIN ROAD?

The current guideline value of SRI BALAJI NAGAR WEST 2nd MAIN ROAD is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 600 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What is the land classification for SRI BALAJI NAGAR WEST 2nd MAIN ROAD?

SRI BALAJI NAGAR WEST 2nd MAIN ROAD is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

The Villivakkam Sub Registrar Office, which covers SRI BALAJI NAGAR WEST 2nd MAIN ROAD, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 21,00,000 would incur a stamp duty of Rs 1,47,000 and a registration fee of Rs 42,000.