Guideline Value for BALAMMAL NAGAR

Balammal Nagar guideline value

The current guideline value of Balammal Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This locality is situated in Ponneri village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Balammal Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This increased to Rs 469 per sq.ft in the 2017 revision, marking a decrease of 6%. However, from 2017 to 2023, the value rose significantly to Rs 700 per sq.ft, reflecting a 49% increase. The 2023 revision also maintained the same value of Rs 700 per sq.ft for the 2024 revision, resulting in no change.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 40%.

Guideline values in Ponneri

In Ponneri village, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, aligning with the 2024 figure for Balammal Nagar.

• Balammal Street: Rs 700 per sq.ft (2024)
• Balaji Nagar Virivakkam: Rs 700 per sq.ft (2024)
• Balan Nagar: Rs 700 per sq.ft (2024)
• Balavinayagam Kovil Street: Rs 700 per sq.ft (2024)
• Barma Nagar / Anna Nagar: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Balammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. 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 Balammal Nagar?

The Sub Registrar Office that covers Balammal Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ponneri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the fees are based on the official value set by the government.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balammal Nagar?

The current guideline value of Balammal Nagar is Rs 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 500 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023 and 2024.

What is the classification of land in Balammal Nagar?

Balammal Nagar is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Balammal Nagar located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Balammal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.