Guideline Value for Sri Balaji Nagar Main Road

Sri Balaji Nagar Main Road guideline value

The current guideline value for Sri Balaji Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Balaji Nagar Main Road has changed

The guideline value for Sri Balaji Nagar Main Road has seen several revisions over the years. Starting from 2002, the guideline value was Rs 398 per sq.ft. This increased to Rs 433 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 500 per sq.ft in 2007, which was a +15% increase. Following this, in 2012, the guideline value jumped to Rs 3,500 per sq.ft, reflecting a substantial increase of +600%. The latest revision in 2024 set the value at Rs 3,850 per sq.ft, which is a +10% increase from the 2012 figure. There are no figures available for the years 2017 and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the guideline value for Sri Balaji Nagar Main Road.

• Sri Balaji Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar (Thilagar Street): Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• SRI DEVI KARUMARIAMMAN NAGAR - Chelliyammal Street: Rs 4,400 per sq.ft (2024)
• SRI DEVI KARUMARIAMMAN NAGAR - Govindarajan Street: Rs 4,400 per sq.ft (2024)
• SRI DEVI KARUMARIAMMAN NAGAR - Krishnamachari Salai (Street): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar Main Road?

The Sub Registrar Office covering Sri Balaji Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Sri Balaji Nagar Main Road?

The current guideline value for Sri Balaji Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 398 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +867% over the years.

What is the land classification for Sri Balaji Nagar Main Road?

Sri Balaji Nagar Main Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

Are there other streets with the same guideline value in Valasaravakkam?

Yes, several other streets in Valasaravakkam also have a guideline value of Rs 3,850 per sq.ft in 2024, including Sri Balaji Nagar 1st Street, Sri Balaji Nagar 2nd Street, and Sri Balaji Nagar (Thilagar Street).

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.