Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Kattupakkam village, is Rs 500 per sq.ft. This value is effective from the 2024 revision, which is managed by the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

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 earliest recorded figure is from 2007, which was Rs 180 per sq.ft. This increased to Rs 500 per sq.ft in 2012, showing a significant rise of 178%. However, in 2017, the value decreased to Rs 335 per sq.ft, marking a decline of 33%. The value then rose to Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these years.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 178%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Kattupakkam

In Kattupakkam, there are 27 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 400 to Rs 1,500 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which is the same as the guideline value for Sri Balaji Nagar.

• Sri Dhanalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sivaji Nagar: Rs 400 per sq.ft (2024)
• Sri Sai Avenue: Rs 500 per sq.ft (2024)
• Selvi Nagar Phase- III: Rs 800 per sq.ft (2024)
• Selvi Nagar Phase - II: Rs 672 per sq.ft (2024)
• Selvi Nagar: Rs 672 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 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is 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?

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 Kattupakkam

The guideline value is a crucial factor when buying or selling property in Kattupakkam. It determines the minimum value at which property transactions must be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer purchases property, the guideline value helps in assessing the applicable charges. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Special Type - I, which influences its guideline value and property use.

What is the median guideline value in Kattupakkam?

The median guideline value for the 27 streets in Kattupakkam under the Gooduvancheri SRO is Rs 500 per sq.ft, which is the same as the guideline value for Sri Balaji Nagar.

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

The Sub Registrar Office for Sri Balaji Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.