Guideline Value for SRI JAI BALAJI NAGAR

Sri Jai Balaji Nagar guideline value

The current guideline value of Sri Jai Balaji Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Jai Balaji Nagar has changed

The guideline value for Sri Jai Balaji Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. After this drop, the value rose significantly to Rs 1,000 per sq.ft in 2023, marking an increase of 87%. The latest revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 38%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value of Sri Jai Balaji Nagar is below this median.

• Sri Krishna Nagar: Rs 1,102 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar (S.No.238/1,2): Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar Partr-3 Extn: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar Part-IV: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jai Balaji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please note that 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 Jai Balaji Nagar?

The Sri Jai Balaji Nagar area falls under the Redhills Sub Registrar Office located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of properties in Puzhal. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Jai Balaji Nagar?

The current guideline value of Sri Jai Balaji Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an increase from Rs 800 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 38%.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Sri Jai Balaji Nagar?

The Redhills Sub Registrar Office covers Sri Jai Balaji Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Sri Jai Balaji Nagar?

Sri Jai Balaji Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.