Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Kanchivakkam village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Balaji Nagar has changed

Over the years, the guideline value for Sri Balaji Nagar has seen several revisions. The 2017 revision set the value at Rs 335 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 500 per sq.ft. The latest revision in 2024 has maintained the guideline value at Rs 500 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the value has also risen by 49%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 600 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the guideline value of Sri Balaji Nagar.

• Senthil Nagar: Rs 500 per sq.ft (2024)
• Sri Sai Vignesh Nagar: Rs 600 per sq.ft (2024)
• Sterling Garden-I & II: Rs 400 per sq.ft (2024)
• Sumangali Nagar: Rs 500 per sq.ft (2024)
• Sankar Nagar: Rs 500 per sq.ft (2024)
• Valarmathi Garden Part-I to IV: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It's 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 more details.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office that covers Sri Balaji Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value is essential for calculating the costs associated with property registration, which are based on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2023 to 2024, while it increased by 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What is the land classification for Sri Balaji Nagar?

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

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Balaji Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000.