Guideline Value for Sai Balaji Nagar

Sai Balaji Nagar guideline value

The current guideline value of Sai Balaji Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sholavaram village, under the Redhills Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Sai Balaji Nagar has changed

The guideline value for Sai Balaji Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 29 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a growth of 934%. The value then rose to Rs 600 per sq.ft in 2012, reflecting a 100% increase. However, in 2017, the value dropped to Rs 402 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 600 per sq.ft in 2023, and subsequently to Rs 660 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 2,176%. The register has no figure for Sai Balaji Nagar for the year 2002.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 515 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, which is the same as the current value for Sai Balaji Nagar.

• Sakthi Avenue: Rs 550 per sq.ft (2024)
• R.D.Taaj City: Rs 550 per sq.ft (2024)
• Ramya Garden: Rs 770 per sq.ft (2024)
• Selliamman Street: Rs 550 per sq.ft (2024)
• Selvam Garden: Rs 550 per sq.ft (2024)
• Rajaraja Chozhan Puthu Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sai Balaji Nagar?

The Sub Registrar Office that covers Sai Balaji Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Sholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. It is essential to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sai Balaji Nagar?

The current guideline value of Sai Balaji Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 29 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, marking an overall increase of 2,176% over this period.

Which Sub Registrar Office covers Sai Balaji Nagar?

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

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for the minimum registration value of a property. It ensures that the government collects appropriate revenue through stamp duty and registration fees during property transactions.