Guideline Value for BALAJI SINGH STREET

Balaji Singh Street guideline value

The current guideline value of Balaji Singh Street, located in Mambalam village under the Thiyagaraya nagar SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Balaji Singh Street has changed

The guideline value for Balaji Singh Street has seen significant changes over the years. In 2002, the value was Rs 652 per sq.ft, which increased to Rs 781 per sq.ft in 2003, marking a 20% rise. The value further increased by 28% to Rs 1,000 per sq.ft in 2007. However, from 2007 to 2012, the value saw a substantial increase of 600%, reaching Rs 7,000 per sq.ft. In 2017, the value dropped by 33% to Rs 4,690 per sq.ft, before increasing by 49% to Rs 7,000 per sq.ft in 2023. The most recent revision in 2024 saw a further increase of 10%, bringing the current value to Rs 7,700 per sq.ft.

There are no figures available for the revisions in the years not mentioned in the register. The overall increase from 2002 to 2024 is 1081%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Balaji Singh Street's 2024 figure above that median.

• Balakrishna Street: Rs 7,700 per sq.ft (2024)
• Barathidasan East Street Appavoo Nagar: Rs 7,700 per sq.ft (2024)
• Barathidasan Street: Rs 7,700 per sq.ft (2024)
• Barathi Street East To West Western Side Of Aranganatha Subway: Rs 7,700 per sq.ft (2024)
• Bakthavatsalam Street: Rs 7,700 per sq.ft (2024)
• Bazaar Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Singh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, resulting in a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Singh Street?

The Sub Registrar Office that covers Balaji Singh Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions reflect a fair value for taxation purposes.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Singh Street?

The current guideline value of Balaji Singh Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 652 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of 1081% over the years.

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam is Rs 6,600 per sq.ft, with Balaji Singh Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Balaji Singh Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Balaji Singh Street?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Balaji Singh Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.