Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Kaspapuram village, is Rs 1,100 per sq.ft, effective from the 2024 revision. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - IV.

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 earliest recorded figure is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, an increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value for Sri Balaji Nagar.

• Shibin City: Rs 1,100 per sq.ft (2024)
• Sudhanandha Bharathi 1st Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 2nd Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 3rd Street: Rs 550 per sq.ft (2024)
• Sakunthala Third Cross Street: Rs 550 per sq.ft (2024)
• Sakunthala Second Cross Street: Rs 550 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sri Balaji Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kaspapuram

The guideline value plays a crucial role in property transactions in Kaspapuram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the costs involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,000 per sq.ft to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

The stamp duty for a property in Sri Balaji Nagar is 7%, and the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft property would incur a total cost of Rs 99,000 in these fees.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Sri Balaji Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

Where can I find more information about guideline values in Kaspapuram?

For more information about guideline values in Kaspapuram, you can refer to the official registration department's guideline value register or visit the Tambaram Joint 1 SRO.