Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Korukanthangal village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. 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 for Sri Balaji Nagar has seen several revisions. The earliest available figure is from 2007, where the value was Rs 160 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 213% rise. However, it saw a decrease to Rs 335 per sq.ft in 2017, which was a 33% drop from the 2012 figure. The value remained the same at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from 2007 to 2024, the guideline value has increased by 213%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a guideline value of Rs 500 per sq.ft as of 2024, with the median also being Rs 500 per sq.ft. Sri Balaji Nagar's guideline value aligns with this median.

• Sri Gayathri Co-op Mega Nagar: Rs 500 per sq.ft (2024)
• Sri Gayathri Dr.City Phase-II & V: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar Extn: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar: Rs 500 per sq.ft (2024)
• Subramaniya 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 guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 details.

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

When buying or selling property in Korukanthangal, the guideline value plays a critical role in determining the stamp duty and registration fees. This value is used as a benchmark to assess the property’s worth for legal and taxation purposes.

At the time of registration, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's assessed value.

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 160 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Balaji Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the land classification for Sri Balaji Nagar?

The land classification for Sri Balaji Nagar is Residential Special Type - I, indicating its intended use for residential purposes.