Guideline Value for Sri Balaji Nagar Part-I

Sri Balaji Nagar Part-I guideline value

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

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

Over the years, the guideline value of Sri Balaji Nagar Part-I has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 167 per sq.ft, before rising again to Rs 250 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, there was a 50% increase in the guideline value. The value remained unchanged from 2023 to 2024, reflecting a 0% change. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 150%.

Guideline values in Nallur

Nallur village has 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Sri Balaji Nagar Part-I aligns with this median at Rs 250 per sq.ft.

• Sri Balaji Nagar Part-II: 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-I

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 at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It's important to note that the duty is charged on the higher of the guideline value and 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-I?

The Sri Balaji Nagar Part-I area is covered by 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 in the registration process when buying or selling property in Nallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 100 per sq.ft to Rs 250 per sq.ft in 2024, reflecting a 150% overall increase. The value has seen fluctuations, with a drop in 2017 before stabilizing at Rs 250 in 2023 and 2024.

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

Other streets in Nallur with a guideline value of Rs 250 per sq.ft include Sri Balaji Nagar Part-II and Sri Balaji Nagar. Other streets have varying values, such as S.R. Garden and Siva Sakthi Nagar, which are at Rs 150 per sq.ft.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000, leading to a stamp duty of Rs 17,500.

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

The Sub Registrar Office covering Sri Balaji Nagar Part-I is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information about your SRO through the provided link.