Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Thachoor village under the Ponneri SRO, is Rs 400 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Balaji Nagar has changed

In the 2023 revision, the guideline value for Sri Balaji Nagar was set at Rs 150 per sq.ft. This represents a significant increase of 167% to the current value of Rs 400 per sq.ft in the 2024 revision. It is important to note that the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

The substantial change from Rs 150 to Rs 400 per sq.ft highlights the adjustments made in the guideline values over the years. However, since there are no recorded figures for the earlier years mentioned, we cannot provide a historical context for those periods.

Guideline values in Thachoor

In Thachoor, there are 17 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is equal to the current guideline value of Sri Balaji Nagar.

• Sri Bhavani Amman Nagar: Rs 400 per sq.ft (2024)
• Sri Devi Gayathri Nagar: Rs 400 per sq.ft (2024)
• Sith Krishna Nagar: Rs 400 per sq.ft (2024)
• Sakthi Sai Nagar Phase II: Rs 400 per sq.ft (2024)
• Sai Kannan Homes: Rs 300 per sq.ft (2024)
• R.C.Modern City: 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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 Thachoor

The guideline value is a crucial factor in the registration process when buying or selling property in Thachoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How much was the guideline value in 2023?

In the 2023 revision, the guideline value for Sri Balaji Nagar was Rs 150 per sq.ft.

What percentage increase occurred from 2023 to 2024?

The guideline value increased by 167% from Rs 150 per sq.ft in 2023 to Rs 400 per sq.ft in 2024.

What is the land classification for Sri Balaji Nagar?

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

Which Sub Registrar Office covers Sri Balaji Nagar?

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