Guideline Value for SriBalaji Nagar

SriBalaji Nagar guideline value

The current guideline value of SriBalaji Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This locality is situated in Thirumangalam village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of SriBalaji Nagar has changed

Over the years, the guideline value of SriBalaji Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2012, marking a 500% rise. However, it dropped to Rs 402 per sq.ft in 2017, a decrease of 33%. The value then remained steady at Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%, reflecting the fluctuations in the preceding years.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, positioning SriBalaji Nagar's 2024 figure below this median.

• SriDurgaiamman Kovil Street: Rs 400 per sq.ft (2024)
• Small Street: Rs 605 per sq.ft (2024)
• Sagaya Avenue: Rs 600 per sq.ft (2024)
• R.B.S Nagar: Rs 600 per sq.ft (2024)
• Thiruvallur Road(Annai Velanganni Nagar First Street to Kandigai): Rs 2,000 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Palkarar Street): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in SriBalaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important 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 detailed calculations.

Which Sub Registrar Office covers SriBalaji Nagar?

The SriBalaji Nagar area falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Thirumangalam. It serves as a benchmark for calculating the stamp duty and registration fees when a property is bought or sold. The amount payable is determined based on the guideline value or the sale price, whichever is higher.

When registering a property, buyers must ensure that the transaction adheres to the guideline value to avoid any legal complications. The guideline value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of SriBalaji Nagar?

The current guideline value of SriBalaji Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 100 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then dropping to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value in Thirumangalam?

The median guideline value for the 42 streets in Thirumangalam is Rs 605 per sq.ft, with SriBalaji Nagar's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in SriBalaji Nagar?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Which Sub Registrar Office covers SriBalaji Nagar?

The Sunguvarchattram Sub Registrar Office covers SriBalaji Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.