Guideline Value

Corporate

Guideline Value for Sri Balaji Nagar Part-1B

₹1100/sq.ft.

The guideline value for Sri Balaji Nagar Part-1b 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 N/A
From 1-4-2002 To 31-3-2003 N/A
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-1b

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Sri Balaji Nagar Part-1B guideline value

The current guideline value of Sri Balaji Nagar Part-1B 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-1B has changed

The guideline value for Sri Balaji Nagar Part-1B has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then dropped to Rs 536 per sq.ft in 2017. Following this, the value rose sharply to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft. Notably, there are no figures for this street in the years 2002 and 2003.

In terms of percentage changes, from 2007 to 2012, there was an increase of 167%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a substantial increase of 87% from 2017 to 2023. Finally, from 2023 to 2024, there was a 10% increase, resulting in an overall increase of 267% from 2007 to 2024.

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, with a median value of Rs 1,102 per sq.ft. The guideline value for Sri Balaji Nagar Part-1B is slightly below this median.

Stamp duty and registration fee for property in Sri Balaji Nagar Part-1B

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, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to 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-1B?

The Sub Registrar Office that covers Sri Balaji Nagar Part-1B 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 of property transactions in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

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

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar Part-1B?

The current guideline value of Sri Balaji Nagar Part-1B 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 seen significant fluctuations, starting at Rs 300 per sq.ft in 2007 and rising to Rs 1,100 per sq.ft in 2024, marking an overall increase of 267% over this period.

What is the registration office for Sri Balaji Nagar Part-1B?

The registration office for Sri Balaji Nagar Part-1B is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty for property in Sri Balaji Nagar Part-1B?

The stamp duty for property in Sri Balaji Nagar Part-1B is charged at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.

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

Yes, there are several other streets in Puzhal that share the same guideline value of Rs 1,100 per sq.ft for 2024, including Sri Balaji Nagar Part-1C, Part-1A, Part-1D, Part-1E, Part-1 Extn., and Part-3A.