Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Nayar village under the Ponneri SRO, is Rs 165 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

The guideline value for Sri Balaji Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 165 per sq.ft, up from Rs 150 per sq.ft in 2023, marking a 10% increase. Prior to that, the value was Rs 100 per sq.ft in 2017, indicating a significant increase of 50% between 2017 and 2023. Overall, from 2017 to 2024, the guideline value has risen by 65%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nayar

In Nayar village, there are a total of 8 streets under the Ponneri SRO that carry a 2024 guideline value of Rs 165 per sq.ft. The guideline value for Sri Balaji Nagar is equal to the median value of Rs 165 per sq.ft among these streets.

• Sri Varu Nagar: Rs 165 per sq.ft (2024)
• Sabharis Garden -I: Rs 165 per sq.ft (2024)
• Green Park Avenue: Rs 165 per sq.ft (2024)
• Deepam Avenue: Rs 165 per sq.ft (2024)
• Bharathi Nagar Garden: Rs 165 per sq.ft (2024)
• Bharathi Nagar: Rs 165 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 165 per sq.ft, the total guideline value amounts to Rs 1,65,000. The stamp duty at 7% would be Rs 11,550, and the registration fee at 2% would be Rs 3,300, together totaling Rs 14,850. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 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 Nayar

The guideline value plays a crucial role in the registration process when buying or selling property in Nayar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is considered to determine the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2017 to Rs 165 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 14,850.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

Are there other streets in Nayar with the same guideline value?

Yes, there are other streets in Nayar that also carry a guideline value of Rs 165 per sq.ft as of 2024, including Sri Varu Nagar, Sabharis Garden -I, and others.