Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Nemili_B village, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Balaji Nagar has changed

Over the years, the guideline value for Sri Balaji Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 200 per sq.ft, a significant decrease from the 2023 revision, which was Rs 500 per sq.ft. This change represents a reduction of 60% from the previous year. It is important to note that the register does not provide figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2024 revision, the last recorded value was Rs 500 per sq.ft in 2023. The guideline value has fluctuated significantly, and the absence of figures for earlier years indicates that there were no updates available in the register for those periods.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Sri Balaji Nagar's 2024 figure below this median.

• Sri Devi Nagar: Rs 200 per sq.ft (2024)
• Sowbagiya Co-operative Nagar: Rs 300 per sq.ft (2024)
• Sri Kamacthi Nagar: Rs 250 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 200 per sq.ft (2024)
• Soma Nagar: Rs 250 per sq.ft (2024)
• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Nemili_B. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a realistic price that aligns with the official valuation.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value decreased from Rs 500 per sq.ft in 2023 to Rs 200 per sq.ft in 2024, representing a 60% reduction.

Are there any previous revisions for guideline value in Sri Balaji Nagar?

The register does not provide figures for the years 2017, 2012, 2007, 2003, and 2002 for Sri Balaji Nagar. The last recorded figure was from 2023.

What is the stamp duty rate applicable in Sri Balaji Nagar?

The stamp duty rate applicable in Sri Balaji Nagar is 7%, calculated on the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Sri Balaji Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.