Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Vallam_B village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the rate at Rs 300 per sq.ft, which is the same as the 2023 revision. Prior to this, in 2017, the guideline value was Rs 201 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and overall, a 49% increase from 2017 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only available guideline values for Sri Balaji Nagar are from 2017, 2023, and 2024.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO that carry a 2024 guideline value, which ranges from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Sri Balaji Nagar is below this median.

• Sri Arabindo Nagar (Vasantham Nature City): Rs 200 per sq.ft (2024)
• Sri Devi Nagar: Rs 150 per sq.ft (2024)
• Sowndari garden: Rs 600 per sq.ft (2024)
• Sornambiga Nagar: Rs 400 per sq.ft (2024)
• Sivan Koil Street: Rs 400 per sq.ft (2024)
• Sri Ram Nagar: Rs 150 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office that covers Sri Balaji Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Balaji Nagar has remained at Rs 300 per sq.ft from 2023 to 2024, while it increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, a 49% increase overall from 2017 to 2024.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for properties in Sri Balaji Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000. This is calculated based on the guideline value.

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

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