Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Vengaivasal village, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Mixed Type - II land.

How the guideline value of Sri Balaji Nagar has changed

Over the years, the guideline value of Sri Balaji Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 8% from 2023 to 2024. The overall change from the 2012 revision to the 2024 revision shows an increase of 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value for Sri Balaji Nagar.

• Sri Balaji Nagar Part 1 To V: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar Part IV: Rs 2,700 per sq.ft (2024)
• Siva Pooshnam Nagar Third Street: Rs 3,700 per sq.ft (2024)
• Siva Pooshnam Nagar: Rs 3,700 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Sri Raman Nagar: Rs 3,700 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 more detailed estimates.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees payable to the government.

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

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Sri Balaji Nagar?

Sri Balaji Nagar is classified as Mixed Type - II land, which is relevant for understanding its usage and development potential.

What are the stamp duty rates in Sri Balaji Nagar?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,89,000.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.