Guideline Value for SRI BALASUBRAMANIYAM NAGAR

Sri Balasubramaniyam Nagar guideline value

The current guideline value for Sri Balasubramaniyam Nagar is Rs 385 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village under the Thiruvottiyur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Balasubramaniyam Nagar has changed

The guideline value for Sri Balasubramaniyam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which then decreased to Rs 234 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 350 per sq.ft in 2023, and further rose to Rs 385 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 50%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value for Sri Balasubramaniyam Nagar is above this median.

• Sri Durgai Amman Nagar: Rs 275 per sq.ft (2024)
• S.P. Nagar: Rs 330 per sq.ft (2024)
• Sowparnika Nagar: Rs 330 per sq.ft (2024)
• Sri Muthukumaraswamy Nagar: Rs 330 per sq.ft (2024)
• Sri Nagar: Rs 330 per sq.ft (2024)
• Sivasakthi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balasubramaniyam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 385 per sq.ft, the guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total to Rs 34,650. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balasubramaniyam Nagar?

Sri Balasubramaniyam Nagar falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Balasubramaniyam Nagar?

The current guideline value of Sri Balasubramaniyam Nagar is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then to Rs 350 per sq.ft in 2023, and finally to Rs 385 per sq.ft in 2024.

What is the median guideline value in Nanthiambakkam?

The median guideline value in Nanthiambakkam is Rs 330 per sq.ft, with Sri Balasubramaniyam Nagar's current value being above this median.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 34,650.

Which office handles property registrations in this area?

The Thiruvottiyur Sub Registrar Office handles property registrations for Sri Balasubramaniyam Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.