Guideline Value for Shree Balaji Nagar

Shree Balaji Nagar guideline value

The current guideline value of Shree Balaji Nagar is Rs 1,440 per sq.ft, effective from 1 July 2024. This locality is situated in Thirumazhisai village, under the Poonamallee SRO, and is classified as Residential Class II Type - II.

How the guideline value of Shree Balaji Nagar has changed

In the 2017 revision, the guideline value was Rs 871 per sq.ft. This figure increased significantly to Rs 1,310 per sq.ft in the 2023 revision, marking a 50% increase. The latest revision in 2024 saw a further increase to Rs 1,440 per sq.ft, which is a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thirumazhisai

Thirumazhisai has a total of 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median guideline value in the village is Rs 1,320 per sq.ft, placing Shree Balaji Nagar's 2024 figure above this median.

• Serasa Orchid Srinivasa Palms-II @ Thirumazhisai: Rs 2,300 per sq.ft (2024)
• Serasa Orchid Srinivasa Palms: Rs 1,900 per sq.ft (2024)
• S.M. Nagar: Rs 1,320 per sq.ft (2024)
• Sreevari Gardens Annex: Rs 1,650 per sq.ft (2024)
• Sreevari Nagar Annex: Rs 990 per sq.ft (2024)
• Sreevari Nagar Phase I Annex II: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Shree Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,440 per sq.ft, the total guideline value would be Rs 14,40,000. The stamp duty at 7% would amount to Rs 1,00,800, and the registration fee at 2% would be Rs 28,800, bringing the total fees together to Rs 1,29,600. 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 information.

Which Sub Registrar Office covers Shree Balaji Nagar?

The Sub Registrar Office that covers Shree Balaji Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is crucial during the registration process of property transactions in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

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

Frequently asked questions

What is the current guideline value of Shree Balaji Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 871 per sq.ft in 2017 to Rs 1,440 per sq.ft in 2024. This represents a total increase of 65% over the seven-year period.

What is the median guideline value in Thirumazhisai?

The median guideline value in Thirumazhisai is Rs 1,320 per sq.ft, which is lower than the current value of Shree Balaji Nagar.

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

For a property valued at Rs 14,40,000, the stamp duty would be Rs 1,00,800 and the registration fee would be Rs 28,800, totaling Rs 1,29,600. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Shree Balaji Nagar?

The Poonamallee Sub Registrar Office handles property registrations for Shree Balaji Nagar. It is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.