Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Sri Balaji Nagar has changed

Over the years, the guideline value of Sri Balaji Nagar has seen several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. This was followed by a decrease to Rs 469 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 700 per sq.ft, which remains unchanged in the 2024 revision.

In terms of percentage changes, the guideline value increased by 338% from 2007 to 2012, then decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and there was no change from 2023 to 2024. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

Atanancheri village has a total of 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value is Rs 700 per sq.ft, placing Sri Balaji Nagar's 2024 figure at this median.

• Sri Amman Nagar: Rs 400 per sq.ft (2024)
• Sri Drowpathi Amman Nagar: Rs 700 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 800 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 800 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 700 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% is Rs 49,000, and the registration fee at 2% is Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office that covers Sri Balaji Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial element in the property registration process in Atanancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

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

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 160 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017, and remaining at Rs 700 per sq.ft in 2023 and 2024.

What is the median guideline value in Atanancheri?

The median guideline value in Atanancheri is Rs 700 per sq.ft, with Sri Balaji Nagar's 2024 figure matching this median.

What are the stamp duty and registration fees for properties in Sri Balaji Nagar?

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000 and the registration fee is Rs 14,000, totaling Rs 63,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations in Sri Balaji Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations in Sri Balaji Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.