Guideline Value for Sri Balaji Nagar

Sri Balaji Nagar guideline value

The current guideline value of Sri Balaji Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,640 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I 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 2007 revision set the value at Rs 250 per sq.ft, which then saw a significant increase to Rs 2,400 per sq.ft in 2012, marking an increase of 860%. However, from 2012 to 2017, the value decreased to Rs 1,608 per sq.ft, reflecting a drop of 33%. The 2023 revision brought the value up to Rs 2,400 per sq.ft, and the most recent 2024 revision has increased it further to Rs 2,640 per sq.ft, a rise of 10%.

Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 956%. It's important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value in this area is Rs 2,310 per sq.ft, placing Sri Balaji Nagar's current value above this median.

• Sri Balaji Nagar Extension: Rs 2,640 per sq.ft (2024)
• SRI CHAKKARA AVENUE 4th STREET: Rs 2,970 per sq.ft (2024)
• S.P.S. Nagar: Rs 1,980 per sq.ft (2024)
• Spr Kamakshi Avenue: Rs 3,960 per sq.ft (2024)
• Sorkkam Nagar: Rs 2,640 per sq.ft (2024)
• Sri Lakshmi Apartments: Rs 2,640 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 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total fees together to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Balaji Nagar?

Sri Balaji Nagar falls under the jurisdiction of 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 Perungalathur

The guideline value is a crucial factor in property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees.

Both buyers and sellers should be aware that the guideline value can influence negotiations and the overall transaction process. It is essential to refer to the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sri Balaji Nagar?

The current guideline value of Sri Balaji Nagar is Rs 2,640 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 250 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, reflecting an overall increase of 956% over this period.

What are the other streets with guideline values in Perungalathur?

Other streets in Perungalathur include Sri Balaji Nagar Extension, SRI CHAKKARA AVENUE 4th STREET, S.P.S. Nagar, Spr Kamakshi Avenue, Sorkkam Nagar, and Sri Lakshmi Apartments, with varying guideline values.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,37,600.

Which Sub Registrar Office covers Sri Balaji Nagar?

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