Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Baraniputjur village under the Kunrathur SRO, is Rs 1,210 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Balaji Nagar has changed

The guideline value of Sri Balaji Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in the 2012 revision. However, it then decreased to Rs 737 per sq.ft in the 2017 revision. The 2023 revision saw another increase to Rs 1,100 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,210 per sq.ft.

From the 2017 to 2023 revision, there was a notable increase of 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from the 2007 revision to the current 2024 figure, the guideline value has risen by 384%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft, with the median being Rs 1,210 per sq.ft. The guideline value for Sri Balaji Nagar is equal to this median.

• Sri Ganapathi Nagar: Rs 1,210 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 1,450 per sq.ft (2024)
• Sri Sangeetham Nagar: Rs 1,210 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 1,210 per sq.ft (2024)
• Subbaraya Nagar: Rs 1,210 per sq.ft (2024)
• Surya Avenue Phase - I: Rs 1,870 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Baraniputjur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost involved in the registration process. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, marking an overall increase of 384% over the years.

What are the other streets in Baraniputjur with similar guideline values?

Other streets in Baraniputjur with similar guideline values include Sri Ganapathi Nagar, Sri Sangeetham Nagar, Sri Venkateswara Nagar, and Subbaraya Nagar, all at Rs 1,210 per sq.ft as of 2024.

What is the stamp duty rate for properties in Sri Balaji Nagar?

The stamp duty rate for properties in Sri Balaji Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Kunrathur Sub Registrar Office covers Sri Balaji Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.