Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Uthukottai village under the Oothukkottai SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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 500 per sq.ft, which remained unchanged in the following revisions of 2017 and 2023. In 2017, the value increased to Rs 335 per sq.ft, marking a decrease from the previous figure. The 2024 revision has brought the value back to Rs 500 per sq.ft, showing no change from the 2023 figure, while the overall change from 2012 to 2024 is also 0%.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The changes between the revisions indicate a significant increase of 49% from 2017 to 2023, while the drop from 2012 to 2017 was 33%.

Guideline values in Uthukottai

In Uthukottai, there are 120 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the current guideline value for Sri Balaji Nagar. Below are the guideline values for other streets in Uthukottai:

• South Kalvaikarai: Rs 300 per sq.ft (2024)
• Sriram Nagar: Rs 500 per sq.ft (2024)
• Sathyavedu Road Gandhi Street: Rs 500 per sq.ft (2024)
• Sathyavedu Road: Rs 750 per sq.ft (2024)
• Taluk Office Street: Rs 500 per sq.ft (2024)
• Telephone Exchange Cross Street: Rs 400 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Uthukottai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to calculate the applicable duties based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in the revisions of 2012, 2023, and 2024. There was a decrease to Rs 335 per sq.ft in 2017, which was a 33% drop from the 2012 figure.

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.

Where is the Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai 602026.

How is stamp duty calculated for properties in Sri Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.