Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,815 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed 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 significant changes. The 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 1,650 per sq.ft in 2012. However, there was a decrease to Rs 1,105 per sq.ft in 2017. The value then rose sharply to Rs 1,650 per sq.ft in 2023, and most recently to Rs 1,815 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%. Notably, the overall change from the 2007 revision to the 2024 revision reflects a significant increase of 303%. The guideline value register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Sri Balaji Nagar's 2024 value above this median.

• Sri Ambal Nagar Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,540 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,430 per sq.ft (2024)
• Sri Kamakshi Amman Nagar: Rs 1,655 per sq.ft (2024)
• Sokkammal Nagar: Rs 1,430 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,090 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 1,815 per sq.ft, the total guideline value amounts to Rs 18,15,000. The stamp duty, charged at 7%, would be Rs 1,27,050, and the registration fee at 2% would be Rs 36,300, making the total fees Rs 1,63,350. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office covering 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 more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 1,815 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 450 per sq.ft in 2007 to Rs 1,815 per sq.ft in 2024, reflecting an overall increase of 303% over this period.

What are the other streets in Chennerkuppam with their guideline values?

Other streets in Chennerkuppam include Sri Ambal Nagar Lakshmi Avenue and Sri Ambal Nagar, both at Rs 1,540 per sq.ft, and Sri Kamakshi Amman Nagar at Rs 1,655 per sq.ft, among others.

What is the registration fee for property in Sri Balaji Nagar?

The registration fee for property in Sri Balaji Nagar is calculated based on the guideline value, with a fee of 2% applied to the total guideline value.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Kunrathur Sub Registrar Office at No.59, Road Street, Kundrathur, Chennai -600 069, or use the provided link to find your SRO.