Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Thiruneermalai village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has seen significant changes over the years. In 2002, the value was Rs 186 per sq.ft, which then increased to Rs 74 per sq.ft in 2003. Following this, the value rose dramatically to Rs 220 per sq.ft in 2007, and further soared to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,980 per sq.ft. Notably, there is no figure for this street in the 2012 revision.

From 2002 to 2024, the overall increase in guideline value is an impressive 965%. The changes between the revisions include a 10% rise from 2023 to 2024, a 49% increase from 2017 to 2023, a substantial 448% jump from 2007 to 2017, a 197% increase from 2003 to 2007, and a decrease of 60% from 2002 to 2003.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value for Sri Balaji Nagar is below this median.

• Sreepuram 3rd Cross Street: Rs 3,080 per sq.ft (2024)
• SreeKrishna 2st Street: Rs 1,320 per sq.ft (2024)
• SreeKrishna 1st Street: Rs 1,320 per sq.ft (2024)
• South Mada Street: Rs 2,200 per sq.ft (2024)
• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Sivaraj Street Extn 3rd Street: Rs 2,420 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 precise calculations.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office that covers Sri Balaji Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the registration fees and stamp duty payable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that both buyers and sellers are aware of their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 186 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 965% over this period.

What is the registration office for Sri Balaji Nagar?

The registration office for Sri Balaji Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are based on the guideline value or the sale price, whichever is higher.

Are there other streets with different guideline values in Thiruneermalai?

Yes, there are several other streets in Thiruneermalai with varying guideline values, ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median of Rs 2,420 per sq.ft.