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 1 July 2024. This area falls under Puliyaranangkottai village and is classified as Residential Class I Type - I within the Madurandakam SRO.

How the guideline value of Sri Balaji Nagar has changed

The guideline value of Sri Balaji Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 20 per sq.ft. This increased to Rs 50 per sq.ft in 2012, but then saw a decrease to Rs 33 per sq.ft in 2017. The value significantly rose to Rs 100 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures recorded for the years 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is an increase of 400%. The changes between the revisions include a 150% increase from 2007 to 2012, followed by a decrease of 34% from 2012 to 2017, and a substantial increase of 203% from 2017 to 2023, with no change from 2023 to 2024.

Guideline values in Puliyaranangkottai

In addition to Sri Balaji Nagar, there are other streets in Puliyaranangkottai under the Madurandakam SRO. The guideline values for these streets are as follows:

• Srinivasa Nagar: Rs 100 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 amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Puliyaranangkottai

The guideline value is a crucial factor when registering property transactions in Puliyaranangkottai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which ensures compliance with local regulations.

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 from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, with various revisions in between, including a significant increase of 203% from 2017 to 2023.

What is the land classification of Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

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

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

How is stamp duty calculated in Sri Balaji Nagar?

Stamp duty in Sri Balaji Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 1,00,000, the stamp duty at 7% would be Rs 7,000.