Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village under the Neelankarai SRO, classified as Residential Class II 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. The earliest available figure is from 2007, where it was Rs 1,715 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sri Balaji Nagar's 2024 figure above this median.

• Sri Jaya Nagar: Rs 1,700 per sq.ft (2024)
• Srinivasa Avenue: Rs 1,700 per sq.ft (2024)
• Sivan Koil Street: Rs 1,700 per sq.ft (2024)
• Sivan Koil Cross Street: Rs 1,700 per sq.ft (2024)
• Srinivasan Nagar: Rs 1,700 per sq.ft (2024)
• Srinivasapuram: Rs 1,700 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 rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Neelankarai. It determines the amount of stamp duty and registration fees that need to be paid, as these fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,715 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 63% over this period.

What is the median guideline value in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, with Sri Balaji Nagar's 2024 figure being above this median.

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

The registration fees for a property in Sri Balaji Nagar include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Sri Balaji Nagar is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.