Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Periyapalayam village under the Arani_Tiruvallur SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Balaji Nagar has changed

Since the 2017 revision, the guideline value for Sri Balaji Nagar has seen a significant increase. In 2017, the value was Rs 134 per sq.ft, which rose to Rs 200 per sq.ft in the 2023 revision, marking a 49% increase. The 2024 revision also holds the value at Rs 200 per sq.ft, showing no change from the previous year.

For the years prior to 2017, the register has no figure for this street in 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Periyapalayam

In Periyapalayam, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Balaji Nagar's 2024 figure matches this median.

• Sri Sakthi Avenue: Rs 200 per sq.ft (2024)
• Sri Vari Nagar: Rs 200 per sq.ft (2024)
• Royal Diamond City: Rs 402 per sq.ft (2024)
• Thiruvallur Nagar: Rs 160 per sq.ft (2024)
• R.K. Nagar: Rs 300 per sq.ft (2024)
• Thottakkara Street: Rs 200 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Periyapalayam. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the higher amount between the guideline value and the sale price is used to determine the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 49%, rising from Rs 134 per sq.ft to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Sri Balaji Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

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

The Sub Registrar Office for Sri Balaji Nagar is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.