Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Mangadu-B village under the Kunrathur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is 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 significant changes. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking a rise of 10%. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, indicating a substantial increase of 49% to the 2023 figure. Notably, there are no registered figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This upward trend reflects the growing valuation of the area, with the latest figure being a significant jump from the previous years.

Guideline values in Mangadu-B

In Mangadu-B, there are 70 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,430 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, positioning Sri Balaji Nagar's current value above this median.

• Sri Kamatchi Nagar: Rs 1,750 per sq.ft (2024)
• Vlc Karikala Cholan Nagar: Rs 3,000 per sq.ft (2024)
• Vlc Karikala Cholan Nagar Phase - I: Rs 3,000 per sq.ft (2024)
• O.A.Royal Nagar: Rs 3,960 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,000 per sq.ft (2024)
• Jeeva Nagar: Rs 1,550 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 more details.

How the guideline value is used when you buy or sell in Mangadu-B

The guideline value is a critical factor in the registration process of property transactions in Mangadu-B. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the buying or selling of property.

When a property is registered, the guideline value helps ensure that the transaction is documented accurately, reflecting the official valuation of the property. Buyers and sellers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value increased over the years?

From 2017 to 2024, the guideline value has increased by 64%. Specifically, it rose from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024.

What are the other streets in Mangadu-B and their guideline values?

Other streets in Mangadu-B include Sri Kamatchi Nagar at Rs 1,750 per sq.ft, Vlc Karikala Cholan Nagar at Rs 3,000 per sq.ft, and O.A.Royal Nagar at Rs 3,960 per sq.ft, among others.

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

The stamp duty rate for properties in Sri Balaji Nagar is 7%. This is calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Sri Balaji Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.