Guideline Value for Sri Balaji Nagar Part-II

Sri Balaji Nagar Part-II guideline value

The current guideline value of Sri Balaji Nagar Part-II, located in Nallur village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from the 2024 revision, which will be in place from 1 July 2024. The land classification for this area is Residential Special Type - I.

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

The guideline value for Sri Balaji Nagar Part-II has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased by 150% to Rs 250 per sq.ft in 2012. However, in 2017, the value dropped by 33% to Rs 167 per sq.ft. The 2023 revision kept the value at Rs 250 per sq.ft, remaining unchanged into the 2024 revision.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 150%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft, with the median being Rs 250 per sq.ft. The guideline value for Sri Balaji Nagar Part-II aligns with this median.

• Sri Balaji Nagar Part-I: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar: Rs 250 per sq.ft (2024)
• S.R. Garden: Rs 150 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 150 per sq.ft (2024)
• Sriperumpudur Kundrathur Road: Rs 500 per sq.ft (2024)
• Sri Sastha Nagar: Rs 350 per sq.ft (2024)

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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is calculated at 7%, which comes to Rs 17,500, and the registration fee is 2%, amounting to Rs 5,000. Therefore, the total cost for stamp duty and registration fee together is Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balaji Nagar Part-II?

The Sub Registrar Office that covers Sri Balaji Nagar Part-II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nallur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and reflects the market value of the property in that area.

When buyers or sellers engage in a transaction, the guideline value is referenced to ensure that the property is registered at a fair value. This helps maintain transparency in property dealings and ensures that the correct fees are collected by the government.

Frequently asked questions

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

The current guideline value of Sri Balaji Nagar Part-II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in both 2023 and 2024.

What are the other streets in Nallur with their guideline values?

Other streets in Nallur include Sri Balaji Nagar Part-I and Sri Balaji Nagar, both at Rs 250 per sq.ft, S.R. Garden and Siva Sakthi Nagar at Rs 150 per sq.ft, Sriperumpudur Kundrathur Road at Rs 500 per sq.ft, and Sri Sastha Nagar at Rs 350 per sq.ft.

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

The stamp duty for properties in Sri Balaji Nagar Part-II is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty amounts to Rs 17,500.

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

The Sub Registrar Office for Sri Balaji Nagar Part-II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information on where to locate your SRO.