Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Venmanamputhur village under the Tiruvallur Joint 1 SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Sri Balaji Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The 2024 revision also maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 200 per sq.ft.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with the median being Rs 200 per sq.ft. Sri Balaji Nagar's 2024 figure aligns with this median.

• Sri Danalakshmi Nagar: Rs 250 per sq.ft (2024)
• Sri Ranga Natha Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Sakthi Nagar: Rs 200 per sq.ft (2024)
• Shanthi Nagar: Rs 200 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 200 per sq.ft (2024)
• Seyon Nagar: Rs 200 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. 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?

Sri Balaji Nagar falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Venmanamputhur. It serves as the benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When purchasing property, the guideline value is used to calculate the applicable duties, which are based on the higher of the guideline value or 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 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and an increase back to Rs 200 per sq.ft in 2023.

What is the land classification of Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class II Type - II under the local land regulations.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would be Rs 18,000.

Where can I find the Sub Registrar Office for Sri Balaji Nagar?

The Sub Registrar Office covering Sri Balaji Nagar is the Tiruvallur Joint 1 SRO, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.