Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Vinayaganaloore village, under the Madurandakam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Balaji Nagar has changed

The guideline value of Sri Balaji Nagar has seen several revisions over the years. In 2007, the value was Rs 15 per sq.ft, which increased significantly to Rs 80 per sq.ft in 2012. However, this was followed by a decrease to Rs 54 per sq.ft in 2017. The 2023 revision set the value at Rs 100 per sq.ft, and the latest revision in 2024 increased it to Rs 101 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, the value increased by 433%, but then it dropped by 33% from 2012 to 2017. A significant jump of 85% occurred from 2017 to 2023, followed by a modest increase of 1% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 573%.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are 8 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 102 per sq.ft. Sri Balaji Nagar's 2024 figure of Rs 101 per sq.ft is below this median.

• Sree Kamatchi Nagar: Rs 102 per sq.ft (2024)
• Sri Gubera Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Guberan Nagar: Rs 101 per sq.ft (2024)
• Saranalaya Nagar Phase-I: Rs 150 per sq.ft (2024)
• Raja Nagar: Rs 103 per sq.ft (2024)
• Vasantham Nagar: Rs 102 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 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, while the registration fee at 2% would be Rs 2,020. Together, these fees would total Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Vinayaganaloore

The guideline value is a crucial factor when registering property transactions in Vinayaganaloore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value is compared with the sale price, and the higher amount 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 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 15 per sq.ft in 2007 to Rs 101 per sq.ft in 2024, reflecting a total increase of 573% over the years.

Which office handles registrations for Sri Balaji Nagar?

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

What is the stamp duty rate for property transactions?

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

How can I calculate the registration fees?

The registration fee is calculated at 2% of the guideline value or sale price, whichever is higher. You can use our stamp duty and registration fee calculator for accurate calculations.