Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The value rose significantly to Rs 900 per sq.ft in 2023, and it has now increased to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. Notably, the register has no figures for this street in the years 2002 and 2003.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, which indicates that Sri Balaji Nagar's 2024 figure is below this median.

• Sri Baba Nagar: Rs 770 per sq.ft (2024)
• Sri Ananthanathan Nagar: Rs 990 per sq.ft (2024)
• Sri Ganesha Nagar: Rs 1,325 per sq.ft (2024)
• South Mada Street: Rs 940 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Sivapriya Avenue: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total charges Rs 89,100. It is important to note that 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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mannivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Buyers and sellers need to be aware that the guideline value may differ from the actual sale price. The registration office will charge fees based on the higher of the two values, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the stamp duty rate for property in Sri Balaji Nagar?

The stamp duty rate for property transactions in Sri Balaji Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

What should I know about the guideline value during a property transaction?

During a property transaction, the guideline value is used to determine the minimum registration value and the associated fees. It is essential to check the guideline value to understand the financial implications of the transaction.