Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 100 per sq.ft, effective from the 2024 revision. This area is located in Murugampakam village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Balaji Nagar has changed

Since the 2007 revision, the guideline value for Sri Balaji Nagar has seen significant changes. In 2007, the value was Rs 20 per sq.ft, which increased to Rs 75 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value decreased to Rs 50 per sq.ft, a drop of 33%. The value then increased to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a 100% increase from 2017 to 2023. The register has no figure for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 400%, reaching the current rate of Rs 100 per sq.ft. This consistent increase indicates a steady valuation in the area over the years.

Guideline values in Murugampakam

In Murugampakam, there are three streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 101 per sq.ft, and Sri Balaji Nagar's 2024 figure is below that median.

• Robert Garden: Rs 101 per sq.ft (2024)
• Avudaiamman Nagar: Rs 250 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty is charged at 7%, amounting to Rs 7,000, and the registration fee is 2%, which is Rs 2,000. Together, the total fees would be Rs 9,000. 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 detailed calculations.

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. For more information, you can find your SRO.

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

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

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

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 the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, marking an overall increase of 400% 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 sale price, whichever is higher.

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

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

What are the other streets in Murugampakam with guideline values?

Other streets in Murugampakam include Robert Garden with a guideline value of Rs 101 per sq.ft and Avudaiamman Nagar with a guideline value of Rs 250 per sq.ft as of 2024.