Guideline Value for Sri Sai Balaji Nagar

Sri Sai Balaji Nagar guideline value

The current guideline value of Sri Sai Balaji Nagar, located in Kondavakkam village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Sai Balaji Nagar has changed

Over the years, the guideline value of Sri Sai Balaji Nagar has experienced several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 50 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2012, reflecting a 400% rise. However, the value then decreased to Rs 167 per sq.ft in 2017, marking a 33% drop. The value remained at Rs 250 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

The overall change from 2007 to 2024 shows a substantial increase of 400%, with the current value matching the figures from 2012 and 2023. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kondavakkam

In Kondavakkam, there are six streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 903 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which means the guideline value of Sri Sai Balaji Nagar is below this median.

• Teachers Spanish City: Rs 500 per sq.ft (2024)
• NRI centre city ph.II: Rs 700 per sq.ft (2024)
• NRI Centre City: Rs 700 per sq.ft (2024)
• Mahidhara Central - II Sector-I: Rs 903 per sq.ft (2024)
• Mahidara Central: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Balaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value is Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total fees Rs 22,500. 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 details.

Which Sub Registrar Office covers Sri Sai Balaji Nagar?

The Sub Registrar Office that covers Sri Sai Balaji Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Kondavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and fair, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Sai Balaji Nagar?

The current guideline value of Sri Sai Balaji Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and remained at Rs 250 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Kondavakkam?

Other streets in Kondavakkam have varying guideline values, ranging from Rs 250 to Rs 903 per sq.ft. The median value for these streets is Rs 700 per sq.ft.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles the registration for Sri Sai Balaji Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Sri Sai Balaji Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.