Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Palnalloor village under the Sunguvarchattram SRO, is Rs 200 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 undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision. In 2017, the value increased to Rs 134 per sq.ft, marking a decrease of 33% from the previous revision. Following this, the 2023 revision maintained the value at Rs 200 per sq.ft, and the most recent 2024 revision also holds this value, showing no change from the 2023 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 0%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 471 per sq.ft, with the median value being Rs 200 per sq.ft. The guideline value of Sri Balaji Nagar is equal to this median.

• Selva Vinayagar Street: Rs 175 per sq.ft (2024)
• School Street: Rs 175 per sq.ft (2024)
• Thanthoniamman Kovil Street: Rs 250 per sq.ft (2024)
• TheruVeethiamman Kovil North Street: Rs 175 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 175 per sq.ft (2024)
• Thirumallai Nagar: Rs 200 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 to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palnalloor. It is used to determine the stamp duty and registration fees that are payable at the time of registration. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in estimating the total costs involved in the transaction. It is advisable to consult the guideline value register to ascertain the current rates applicable to specific properties.

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 has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase of 49% occurring between the 2017 and 2023 revisions. The value has remained at Rs 200 per sq.ft since 2012, with no change from 2023 to 2024.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class II Type - I. This classification is important for determining the permissible uses of the land.

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

The Sub Registrar Office for Sri Balaji Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total stamp duty would be Rs 14,000.