Guideline Value for SRI SAI BALAJI NAGAR

Sri Sai Balaji Nagar guideline value

The current guideline value of Sri Sai Balaji Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Sri Sai Balaji Nagar has changed

Looking at the revisions, the guideline value for Sri Sai Balaji Nagar has seen several changes over the years. In 2012, the guideline value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, it increased significantly to Rs 400 per sq.ft, followed by a further increase to Rs 440 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from the 2012 value of Rs 400 per sq.ft to the current 2024 figure, there has been a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is equal to the guideline value of Sri Sai Balaji Nagar.

• Sri Sai Krishna Nagar: Rs 440 per sq.ft (2024)
• Sri Roja Garden: Rs 440 per sq.ft (2024)
• Sri Ram Nagar Annex - 1: Rs 440 per sq.ft (2024)
• Sri Ram Nagar: Rs 440 per sq.ft (2024)
• Sri Selvaganapathy Nagar: Rs 440 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, resulting in a total cost of Rs 39,600. It is essential 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 Sai Balaji Nagar?

Sri Sai Balaji Nagar falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Vilangadupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the actual sale price. The higher value between the two is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Sri Sai Balaji Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, starting from Rs 400 per sq.ft in 2012, decreasing to Rs 268 per sq.ft in 2017, and then increasing to Rs 440 per sq.ft in 2024.

What is the land classification for Sri Sai Balaji Nagar?

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

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Sai Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at 7%.