Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Balaji Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 440 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Sri Balaji Nagar is below this median.

• Sri Devi Nagar: Rs 880 per sq.ft (2024)
• Sri Haya Greevar Nagar: Rs 550 per sq.ft (2024)
• Sowbhakiya Nagar: Rs 880 per sq.ft (2024)
• Sri Janakirathina Nagar: Rs 880 per sq.ft (2024)
• Sri Kamala Nagar: Rs 550 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 550 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 rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Minjur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and legally.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and standardization in 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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024.

What is the median guideline value for streets in Minjur?

The median guideline value for streets in Minjur is Rs 550 per sq.ft, with Sri Balaji Nagar's value being below this median.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Sri Balaji Nagar?

The Ponneri Sub Registrar Office handles property registrations for Sri Balaji Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.