Guideline Value for BALAMANDIR ROAD

Balamandir Road guideline value

The current guideline value of Balamandir Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Balamandir Road has changed

Over the years, the guideline value of Balamandir Road has experienced several revisions. Starting from the 2002 revision, the value was Rs 947 per sq.ft. This figure increased to Rs 1,051 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting a 90% increase. In 2012, the value was recorded at Rs 5,000 per sq.ft, which represented a substantial increase of 150% from the previous revision. However, between 2017 and 2023, the value saw a notable increase of 49%, reaching Rs 5,000 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 481%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Balamandir Road is below this median.

• Balamuthukrishna Road: Rs 17,600 per sq.ft (2024)
• Balu Mudali Street: Rs 5,500 per sq.ft (2024)
• Basudev Street: Rs 13,200 per sq.ft (2024)
• Basullah Road: Rs 17,600 per sq.ft (2024)
• Balaji Avenue Iind Street: Rs 14,300 per sq.ft (2024)
• Balaji Avenue 1 St Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balamandir Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000 for both. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamandir Road?

The Sub Registrar Office that covers Balamandir Road 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 Tnagar

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as set by the authorities. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Balamandir Road?

The current guideline value of Balamandir Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 947 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 481% over this period.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, while Balamandir Road's value is below this median at Rs 5,500 per sq.ft.

What are the stamp duty and registration fees for properties in Balamandir Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Balamandir Road?

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