Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Nelvay village under the Oothukkottai SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Balaji Nagar has changed

Looking at the historical revisions, the guideline value for Sri Balaji Nagar has seen significant changes over the years. In the 2012 revision, the value was set at Rs 70 per sq.ft, which then decreased to Rs 47 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 113%, reaching Rs 100 per sq.ft, and has remained the same in the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Nelvay

In Nelvay, there are 8 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. This places Sri Balaji Nagar at the median value for the area.

• Sri Anandha Nagar: Rs 100 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 100 per sq.ft (2024)
• Sakthi Venkateswara Nargar-Phase-1: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-Phase-3: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-Ext-1: Rs 100 per sq.ft (2024)
• Anjaneya Nagar-2: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total cost for these fees Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Oothukkottai Sub Registrar Office covers Sri Balaji Nagar and is located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nelvay. It serves as a benchmark for determining the minimum value at which properties can be registered. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the guideline value to understand the potential costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 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 70 per sq.ft in 2012 to Rs 47 per sq.ft in 2017, then increased to Rs 100 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class II Type - I.

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

For a 1,000 sq.ft plot, the total stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles registrations for Sri Balaji Nagar?

The Oothukkottai Sub Registrar Office handles registrations for Sri Balaji Nagar, located near the government hospital in Uthukottai, Chennai 602026.