Guideline Value for SRI BALAJI NAGAR

Sri Balaji Nagar guideline value

The current guideline value for Sri Balaji Nagar, located in Korattur village under the Villivakkam Sub Registrar Office (SRO), is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. In the subsequent revisions, the value rose to Rs 2,500 per sq.ft in 2023 and further increased to the current rate of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 980%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Sri Balaji Nagar's 2024 figure above that median.

• SRI BALAJI NAGAR EAST 1st MAIN ROAD: Rs 2,100 per sq.ft (2024)
• SRI BALAJI NAGAR EAST 2nd MAIN ROAD: Rs 2,100 per sq.ft (2024)
• SRI BALAJI NAGAR EAST 3rd MAIN ROAD: Rs 2,100 per sq.ft (2024)
• Sri Balaji Nagar East 8th Cross Street(Kallikuppam): Rs 1,809 per sq.ft (2024)
• SRI BALAJI NAGAR EAST (KALLIKUPPAM) 1st STREET: Rs 2,100 per sq.ft (2024)
• SRI BALAJI NAGAR EAST (KALLIKUPPAM) 2nd STREET: Rs 2,100 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value for Sri Balaji Nagar?

The current guideline value for Sri Balaji Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Sri Balaji Nagar has increased from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 980%.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers the registration for Sri Balaji Nagar?

The Villivakkam Sub Registrar Office covers the registration for Sri Balaji Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class I Type - III, indicating its designation for residential purposes.