Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Kiliyanagar village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

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 the 2007 revision, the value was Rs 30 per sq.ft, which increased to Rs 50 per sq.ft in 2012, marking a rise of 67%. However, the value dropped to Rs 33 per sq.ft in the 2017 revision, reflecting a decrease of 34%. From 2017 to 2023, the value surged by 203%, bringing it to Rs 100 per sq.ft, and it remained unchanged in the 2024 revision.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Kiliyanagar

In Kiliyanagar, there are four streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft, with the median being Rs 100 per sq.ft. Sri Balaji Nagar's 2024 figure aligns with this median.

• Sri Balaji Nagar - II: Rs 100 per sq.ft (2024)
• Sun City: Rs 100 per sq.ft (2024)
• Vasantham Nagar: Rs 103 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 100 per sq.ft, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kiliyanagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved. It is essential to consider this value for accurate budgeting during property transactions.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 30 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, marking an overall increase of 233% over the years.

What are the other streets in Kiliyanagar with their guideline values?

Other streets in Kiliyanagar include Sri Balaji Nagar - II and Sun City, both at Rs 100 per sq.ft, and Vasantham Nagar at Rs 103 per sq.ft for 2024.

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

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

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

The Sub Registrar Office for Sri Balaji Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.