Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar in Puthur village is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then dropped to Rs 469 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 700 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 770 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Puthur

In Puthur, there are 63 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making Sri Balaji Nagar's current value of Rs 770 per sq.ft below this median.

• S.P. Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• S.P. Avenue Phase-III Extension: Rs 1,100 per sq.ft (2024)
• S.P. Avenue Phase - III: Rs 770 per sq.ft (2024)
• S.P. Avenue Phase - II Extension: Rs 770 per sq.ft (2024)
• S.P. Avenue Phase - II: Rs 770 per sq.ft (2024)
• Sp Avenue Phase I: Rs 770 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 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 more details.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office that covers Sri Balaji Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value is a crucial factor during property transactions in Puthur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is documented accurately and reflects the government's valuation of the property.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

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 can I find the Sub Registrar Office for Sri Balaji Nagar?

The Sub Registrar Office for Sri Balaji Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 770 per sq.ft would incur a total guideline value of Rs 7,70,000, leading to specific fees based on this value.