Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Walajabad village and falls under the Walajabad SRO, classified as Residential Class I Type - I.

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 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision recorded a lower value of Rs 469 per sq.ft, showing a decrease of 33% from the previous 2012 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 700 per sq.ft. The current 2024 revision maintains this figure, indicating no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 700 per sq.ft.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 750 per sq.ft, placing Sri Balaji Nagar's 2024 figure below this median. Here are some other streets in Walajabad:

• Sivan Padai Street: Rs 750 per sq.ft (2024)
• Sri Nadarajar Nagar: Rs 500 per sq.ft (2024)
• Sri Natarajar Nagar: Rs 500 per sq.ft (2024)
• Singaravelan Nagar: Rs 1,045 per sq.ft (2024)
• Srinivasa Perumal Kovil St: Rs 750 per sq.ft (2024)
• Sri Pachaiyamman Nagar: Rs 750 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees together to Rs 63,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a key factor in property transactions in Walajabad, as it determines the minimum value at which properties can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that property transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps both parties understand the value of the property in the context of local market conditions. It is essential for buyers to be aware of the current guideline value to ensure that they are paying a fair price and that the necessary fees are calculated accurately 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 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a notable increase from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What are the stamp duty and registration fees for property in Sri Balaji Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Walajabad Sub Registrar Office covers Sri Balaji Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

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.