Guideline Value for Sri Balaram Nagar

Sri Balaram Nagar guideline value

The current guideline value of Sri Balaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Balaram Nagar has changed

The guideline value for Sri Balaram Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of Sri Balaram Nagar is above this median.

• Sri Balaji Nagar: Rs 830 per sq.ft (2024)
• Spn Avenue: Rs 3,300 per sq.ft (2024)
• Sri Karthikeyan Nagar Extension: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase - I: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase II: Rs 830 per sq.ft (2024)
• Sri Karthikeyan Nagar Phase III: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Balaram Nagar?

The Sub Registrar Office covering Sri Balaram 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This value is used to calculate the necessary fees and taxes that must be paid during the registration process.

Frequently asked questions

What is the current guideline value of Sri Balaram Nagar?

The current guideline value of Sri Balaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, which is a total increase of 64% over the seven years.

What are the guideline values of other streets in Padappai?

Other streets in Padappai have varying guideline values, with some streets like Sri Balaji Nagar and Sri Karthikeyan Nagar Extension at Rs 830 per sq.ft, while Spn Avenue is significantly higher at Rs 3,300 per sq.ft.

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

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

How is stamp duty calculated for properties in Sri Balaram Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at the current guideline value of Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.