Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Thirumanikuppam village, under the Sunguvarchattram SRO, classified as Residential Special Type - I.

How the guideline value of Sri Balaji Nagar has changed

Over the years, the guideline value of Sri Balaji Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

The guideline value has remained stable overall from 2012 to 2024, with no change in the current rate. Notably, the revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft. The median value for these streets is Rs 181 per sq.ft, placing Sri Balaji Nagar's 2024 figure above that median.

• Sri Annai Parasakthi Avenue: Rs 200 per sq.ft (2024)
• Sri Jayalakshmi nagar: Rs 200 per sq.ft (2024)
• SriLakshmi Nagar: Rs 200 per sq.ft (2024)
• Thatko Colony: Rs 130 per sq.ft (2024)
• Raja Maharaja Nagar: Rs 200 per sq.ft (2024)
• Vasinampattu Colony: Rs 130 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 rate of Rs 200 per sq.ft, the 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, totaling 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 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 Thirumanikuppam

The guideline value is a crucial factor in property transactions in Thirumanikuppam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

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 remained at Rs 200 per sq.ft since the 2012 revision, dropped to Rs 134 per sq.ft in 2017, and then increased back to Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Special Type - I, indicating its suitability for residential purposes.

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

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 2,00,000, the stamp duty would be Rs 14,000.