Guideline Value for Sri Balaji Nagar Phase-I

Sri Balaji Nagar Phase-I guideline value

The current guideline value of Sri Balaji Nagar Phase-I is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Koozhangacheri village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Sri Balaji Nagar Phase-I has seen several revisions over the years. In 2012, the guideline value was set at Rs 250 per sq.ft. This remained unchanged until the next revision in 2017, where it decreased to Rs 167 per sq.ft. However, by 2023, the value had increased by 50% to Rs 250 per sq.ft, which was maintained in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 250 per sq.ft.

Guideline values in Koozhangacheri

In Koozhangacheri, there are 47 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 1,200 per sq.ft, with a median value of Rs 226 per sq.ft. The guideline value of Sri Balaji Nagar Phase-I is above this median, reflecting its position within the village.

• Sri Balaji Nagar: Rs 250 per sq.ft (2024)
• Sri Ambal Nagar: Rs 300 per sq.ft (2024)
• Sri Alamelu Mangapuram: Rs 250 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 250 per sq.ft (2024)
• Srinivasa Perumal Nagar: Rs 200 per sq.ft (2024)
• Sri Ram Avenue: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar Phase-I

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the 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, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar Phase-I?

The Sub Registrar Office that covers Sri Balaji Nagar Phase-I is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koozhangacheri. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

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. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012, 2023, and 2024, while it decreased to Rs 167 per sq.ft in 2017. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the median guideline value in Koozhangacheri?

The median guideline value in Koozhangacheri is Rs 226 per sq.ft, with Sri Balaji Nagar Phase-I's value being above this median.

What are the stamp duty and registration fees for a property in Sri Balaji Nagar Phase-I?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 22,500, calculated based on the guideline value of Rs 2,50,000.

Where is the Sub Registrar Office for Sri Balaji Nagar Phase-I located?

The Sub Registrar Office for Sri Balaji Nagar Phase-I is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.