Guideline Value

Corporate

Guideline Value for Sri Balaji Nagar

₹830/sq.ft.

The guideline value for Sri Balaji Nagar in Padappai village (Padappai SRO, Chennai zone) is Rs 830 per sq.ft, effective 1 July 2024. It was Rs 750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padappai

Village

Padappai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹830 /sq.ft.
From 1-4-2023 ₹750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹502 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹750 /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 is Rs 830 per sq.ft, effective from 1 July 2024. This locality is situated in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Balaji Nagar has changed

The guideline value for Sri Balaji Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 750 per sq.ft again, and the most recent 2024 revision shows a further increase to Rs 830 per sq.ft, reflecting an 11% rise from the previous year.

In summary, the guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 830 per sq.ft in 2024, which represents an overall increase of 11% from the 2012 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

Padappai village has a total of 146 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 4,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 830 per sq.ft, which aligns with the current value for 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty, charged at 7%, would be Rs 58,100, and the registration fee at 2% would be Rs 16,600. Together, the total cost for stamp duty and registration would be Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balaji Nagar?

The Sub Registrar Office that covers Sri Balaji Nagar is located at Padappai Sub Registrar Office, 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 Padappai

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the minimum value set by the government for the property.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification of Sri Balaji Nagar?

Sri Balaji Nagar is classified as Residential Class III Type - I.

What are the other streets in Padappai with their guideline values?

Other streets in Padappai include Sri Balaram Nagar at Rs 1,980 per sq.ft, Spn Avenue at Rs 3,300 per sq.ft, and several phases of Sri Karthikeyan Nagar, all at Rs 830 per sq.ft.

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

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