Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Naduveerapattu village under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Sri Balaji Nagar has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This value increased significantly to Rs 700 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Naduveerapattu

Naduveerapattu has a total of 96 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Sri Balaji Nagar's 2024 figure above this median.

• Sri Durga Nagar: Rs 440 per sq.ft (2024)
• Sri Gayathri Co-Operative Mega Nagar: Rs 660 per sq.ft (2024)
• Sri Gayathri Mega Nagar: Rs 660 per sq.ft (2024)
• Soosaiyappar Street: Rs 660 per sq.ft (2024)
• Sri Mega City M M Nagar - I, S.No.211/1a1a, 1a2a, 1a2b: Rs 550 per sq.ft (2024)
• Shri Sheshadri Brindha Vanam Nagar: Rs 1,100 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 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Naduveerapattu. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are accurately assessed based on the property's value.

When buying or selling property, the guideline value is referenced to determine the official value of the property for legal and financial purposes. This value is essential for both buyers and sellers 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 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Special Type - II. This classification is important for understanding the zoning and potential use of the land.

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

The registration office for Sri Balaji Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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, a 1,000 sq.ft plot at Rs 770 per sq.ft incurs a stamp duty of Rs 53,900.