Guideline Value

Corporate

Guideline Value for Sri Balaji Nagar

₹990/sq.ft.

The guideline value for Sri Balaji Nagar in Varadarajapuram village (Padappai SRO, Chennai zone) is Rs 990 per sq.ft, effective 1 July 2024. It was Rs 900 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Varadarajapuram

Village

Padappai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹990 /sq.ft.
From 1-4-2023 ₹900 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹603 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹900 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹120 /sq.ft.
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 Varadarajapuram village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Balaji Nagar has changed

The guideline value of Sri Balaji Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, reflecting a decline of 33%. Following this, the value saw a substantial increase to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024, a rise of 10%.

From 2017 to 2023, the value increased by 49%, culminating in the current guideline value of Rs 990 per sq.ft. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Sri Balaji Nagar's 2024 figure below this median.

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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. 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 is covered by 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 Varadarajapuram

The guideline value is an essential factor in property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value is set by the Registration Department and is subject to periodic revisions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions 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 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 120 per sq.ft to Rs 990 per sq.ft in 2024, reflecting an overall increase of 725%.

What are the stamp duty rates in Sri Balaji Nagar?

The stamp duty rate for property in Sri Balaji Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

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

What are the other streets in Varadarajapuram?

Other streets in Varadarajapuram include Sri Balaji Nagar‍ ‍‍- 56/1a, Sri Balaji Nagar @ Mirudhula Homes, Sri Angala Parameshwari Nagar, Sri Bhuvaneswari Nagar, Sri Devi Karumari Nagar, and Sree Sai Krishna Avenue S.Nos.163/2b(Part), 163/3, 164, each with their respective guideline values.