Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value for Sri Balaji Nagar in Mepur village under the Kunrathur SRO is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has seen several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 500% rise. However, this value decreased to Rs 402 per sq.ft in 2017, representing a 33% drop. The value then increased to Rs 600 per sq.ft in 2023, and most recently, it rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mepur

In Mepur village, there are 22 streets under the Kunrathur SRO with a guideline value for 2024 ranging from Rs 550 to Rs 2,955 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Sri Balaji Nagar's 2024 figure below that median.

• Sri Balaji Nagar Phase II: Rs 770 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar: Rs 2,955 per sq.ft (2024)
• Sri Krishna Nagar: Rs 770 per sq.ft (2024)
• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,480 per sq.ft (2024)
• Sri Srinivasa Co-op Nagar: Rs 770 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 our stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mepur. It is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the guideline value helps determine the official value for registration purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 660 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 100 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the median guideline value for streets in Mepur?

The median guideline value for streets in Mepur is Rs 770 per sq.ft for the year 2024.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

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 through the provided link.