Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - II land classification.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has seen significant changes over the years. In 2003, the value was Rs 57 per sq.ft, which increased to Rs 200 per sq.ft in 2007. After that, the value rose dramatically to Rs 1,000 per sq.ft in 2012, but then it decreased to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The changes between these revisions include a +251% increase from 2003 to 2007, a +400% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +10% increase from 2023 to 2024.

It is important to note that there is no guideline value figure for Sri Balaji Nagar in the 2002 revision. Overall, the guideline value has increased by +1830% from 2003 to 2024.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, indicating that Sri Balaji Nagar's current value is below this median.

• Sri Alamelumangapuram: Rs 1,700 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 3,300 per sq.ft (2024)
• Spic Gel Co: Rs 3,300 per sq.ft (2024)
• South Border Lane Pattai Salai: Rs 1,100 per sq.ft (2024)
• Sri Kumaran Avenue: Rs 1,700 per sq.ft (2024)
• Srinivasan Garden: Rs 1,700 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is important to note that the 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?

Sri Balaji Nagar falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and transparently in the official records. This value is essential for both buyers and sellers to understand their financial obligations 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 57 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +1830% over this period.

What is the median guideline value in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, while Sri Balaji Nagar's current value is below this median.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Sri Balaji Nagar?

The Neelankarai Sub Registrar Office handles registrations for Sri Balaji Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.