Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Kattavakkam village under the Walajabad SRO, classified as Residential Class I Type - II.

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 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 300 per sq.ft. The next revision in 2024 increased the guideline value to Rs 350 per sq.ft, marking a 17% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is also +17%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street, indicating a lack of recorded changes during those years.

Guideline values in Kattavakkam

In Kattavakkam, there are 19 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Sri Balaji Nagar is below this median.

• Sri Kalaivani Nagar: Rs 400 per sq.ft (2024)
• Shree Sai Nagar: Rs 300 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)
• Unick Garden: Rs 400 per sq.ft (2024)
• Un Named Layout Survey No:377/2,1a1, 417/1,3: Rs 400 per sq.ft (2024)
• Un Named Layout Survey No:380/3,4, 392: Rs 350 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, resulting in a total of Rs 31,500. 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 specific calculations.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To locate your SRO, you can find your SRO.

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

The guideline value is a crucial factor during property transactions in Kattavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the legal and financial implications of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 300 per sq.ft in 2012 to Rs 350 per sq.ft in 2024, marking a 17% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What are the other streets in Kattavakkam with their guideline values?

Other streets in Kattavakkam have varying guideline values ranging from Rs 300 to Rs 800 per sq.ft. Streets like Sri Kalaivani Nagar and Un Named Layout Survey No:377/2,1a1, 417/1,3 have values of Rs 400 per sq.ft, while Shree Sai Nagar and Thirumalai Nagar are at Rs 300 per sq.ft.

What is the stamp duty for property in Sri Balaji Nagar?

The stamp duty for property in Sri Balaji Nagar is calculated at 7% of the guideline value. For a plot valued at Rs 3,50,000, the stamp duty would amount to Rs 24,500.

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

The Walajabad Sub Registrar Office, which covers Sri Balaji Nagar, is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO through the provided link.