Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 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

The guideline value for Sri Balaji Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 90 per sq.ft, which increased dramatically to Rs 1,273 per sq.ft in the 2017 revision, marking a 1314% increase. The value then rose to Rs 1,900 per sq.ft in 2023, a 49% increase from the previous figure. The latest revision in 2024 sets the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2222%.

Guideline values in Noombal

In Noombal, there are 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is equal to the current guideline value for Sri Balaji Nagar.

• Sri Balaji Nagar Adithi Avenue: Rs 2,090 per sq.ft (2024)
• Sri Dhanalakshmi Avenue: Rs 2,090 per sq.ft (2024)
• Soosaiya Nagar: Rs 2,090 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 2,090 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,090 per sq.ft (2024)
• Solar Estate: 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 2,090 per sq.ft, the guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the jurisdiction of 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 Noombal

The guideline value is a crucial factor in property transactions in Noombal, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the associated costs.

When registering a property, the guideline value serves as a benchmark for the transaction value, ensuring that the fees payable are based on a standardized measure. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 2,090 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 90 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 2222% over this period.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

Where can I find the registration office for Sri Balaji Nagar?

The registration office for Sri Balaji Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri Balaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,88,100.