Guideline Value

Corporate

Guideline Value for Sri Balaji Nagar Part - II

₹1100/sq.ft.

The guideline value for Sri Balaji Nagar Part - Ii in Puzhal village (Redhills SRO, Chennai zone) is Rs 1100 per sq.ft, effective 1 July 2024. It was Rs 1000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Puzhal

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1100 /sq.ft.
From 1-4-2023 ₹1000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹95 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹945 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Balaji Nagar Part - Ii

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Sri Balaji Nagar Part - II guideline value

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

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

Since the year 2002, the guideline value for Sri Balaji Nagar Part - II has undergone several revisions. In 2002, the guideline value was Rs 945 per sq.ft, which then decreased to Rs 95 per sq.ft in 2003. Following this, the value increased significantly to Rs 300 per sq.ft in 2007, and further rose to Rs 800 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease to Rs 536 per sq.ft. The value saw a substantial increase to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision.

The changes between the revisions have been notable. The increase from 2023 to 2024 is 10%, while the jump from 2017 to 2023 was 87%. The decrease from 2012 to 2017 was 33%, and the increase from 2007 to 2012 was 167%. There was a significant rise of 216% from 2003 to 2007, while the value dropped by 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 16%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, placing Sri Balaji Nagar Part - II's value slightly below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Part - II?

The Sub Registrar Office that covers Sri Balaji Nagar Part - II 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 more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Puzhal. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a buyer or seller engages in a transaction, the guideline value is referenced to determine the applicable fees. This value is essential for both parties to understand, as it affects the overall cost of the transaction.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various revisions in between, including a significant increase of 87% from 2017 to 2023.

What is the registration office for Sri Balaji Nagar Part - II?

The registration office for Sri Balaji Nagar Part - II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty for properties in Sri Balaji Nagar Part - II is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

What is the land classification for Sri Balaji Nagar Part - II?

Sri Balaji Nagar Part - II is classified as Residential Class II Type - I, which influences its guideline value and potential uses for property development.