Guideline Value

Corporate

Guideline Value for Sri Balaji Nagar

₹880/sq.ft.

The guideline value for Sri Balaji Nagar in Nandambakkam village (Padappai SRO, Chennai zone) is Rs 880 per sq.ft, effective 1 July 2024. It was Rs 800 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nandambakkam

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹880 /sq.ft.
From 1-4-2023 ₹800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Balaji Nagar

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Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 800 per sq.ft. This value decreased to Rs 536 per sq.ft in 2017. However, in the subsequent revision in 2023, the value increased significantly to Rs 800 per sq.ft, and then further rose to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is equal to the current guideline value of Sri Balaji Nagar.

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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that 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?

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 Nandambakkam

The guideline value is a crucial factor during property registration in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a transaction. The guideline value is used to ensure that the property is registered at a fair value, reflecting its worth according to the government’s assessment.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 800 per sq.ft to Rs 880 per sq.ft in 2024, with notable increases in 2023 and 2024 after a decrease in 2017.

What is the land classification for Sri Balaji Nagar?

Sri Balaji Nagar is classified under Residential Class I Type - I, indicating its designation for residential development.

Where can I find the Sub Registrar Office for property registration?

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

How is stamp duty calculated in Sri Balaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 61,600.