Guideline Value for Sree Balaji Nagar

Sree Balaji Nagar guideline value

The current guideline value of Sree Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sree Balaji Nagar has changed

The guideline value for Sree Balaji Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 700%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has reached Rs 2,200 per sq.ft in the 2024 revision, representing a 10% increase.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 780%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 guideline value for Sree Balaji Nagar.

• S.K.Avenue: Rs 2,200 per sq.ft (2024)
• Sivavishnu Nagar: Rs 2,200 per sq.ft (2024)
• Sri Durga Avenue: Rs 1,210 per sq.ft (2024)
• Sri Ishwaryam Garden: Rs 1,760 per sq.ft (2024)
• Sivajothi Nagar: Rs 1,210 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Sree Balaji Nagar?

The Sub Registrar Office that covers Sree Balaji Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sree Balaji Nagar?

The current guideline value of Sree Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 780% over the years.

What is the registration office for Sree Balaji Nagar?

The registration office for Sree Balaji Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Where can I find more information on guideline values in Mudichur?

More information on guideline values in Mudichur can be found in the registration department's guideline value register, which lists values for various streets in the area.