Guideline Value for Sri Balaji Nagar - II

Sri Balaji Nagar - II guideline value

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

How the guideline value of Sri Balaji Nagar - II has changed

The guideline value for Sri Balaji Nagar - II has undergone several revisions over the years. In 2007, the guideline value was Rs 30 per sq.ft, which increased to Rs 50 per sq.ft in 2012. However, it saw a decrease of 34% to Rs 33 per sq.ft in 2017. From 2017 to 2023, the value rose significantly by 203% to Rs 100 per sq.ft, and it remained unchanged at this rate in the 2024 revision.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Kiliyanagar

In Kiliyanagar, four streets are listed under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Sri Balaji Nagar - II at this median rate.

• Sri Balaji Nagar: Rs 100 per sq.ft (2024)
• Sun City: Rs 100 per sq.ft (2024)
• Vasantham Nagar: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar - II

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. 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 Balaji Nagar - II?

The Sub Registrar Office that covers Sri Balaji Nagar - II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kiliyanagar. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in accordance with local regulations. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar - II?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, marking an overall increase of 233% over the years.

What are the other streets in Kiliyanagar with similar guideline values?

Other streets in Kiliyanagar include Sri Balaji Nagar at Rs 100 per sq.ft, Sun City at Rs 100 per sq.ft, and Vasantham Nagar at Rs 103 per sq.ft for the year 2024.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot of 1,000 sq.ft at Rs 100 per sq.ft incurs a total stamp duty and registration fee of Rs 9,000.

Where can I find the Sub Registrar Office for Sri Balaji Nagar - II?

The Madurandakam Sub Registrar Office, which covers Sri Balaji Nagar - II, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.