Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village under the Kunrathur SRO and is classified as Residential Special 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. In the 2007 revision, the value was set at Rs 250 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 1,500 per sq.ft, marking a 500% increase. However, in the 2017 revision, it dropped to Rs 1,005 per sq.ft, which was a decrease of 33%. The value then increased to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Balaji Nagar.

• Sri Arunachalam Nagar: Rs 2,300 per sq.ft (2024)
• Sri Annai nagar: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Annex Extension: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,650 per sq.ft (2024)
• Sri Adilkshmi Nagar Annexe: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Kovur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate taxes during property transactions.

When buying or selling property, it is essential to consider the guideline value as it reflects the official valuation of the property. This value is used to assess the financial obligations involved in the registration process, impacting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 1,650 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 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 560%.

What is the land classification for Sri Balaji Nagar?

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

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations in Sri Balaji Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Balaji Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.