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 area is located in Ponneri_2 village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balammal Nagar has changed

The guideline value for Balammal Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded the value at Rs 700 per sq.ft. The 2024 revision has maintained this value at Rs 700 per sq.ft, resulting in a total increase of 49% from the 2017 figure.

It is important to note that there are no recorded figures for Balammal Nagar in the revisions of 2002, 2003, 2007, and 2012. Thus, the significant change from 2017 to 2024 reflects a 49% increase overall.

Guideline values in Ponneri_2

In Ponneri_2 village, there are 75 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Balammal Nagar's 2024 figure at this median.

• Balammal Street: Rs 702 per sq.ft (2024)
• Balaji Nagar Virivakkam: Rs 700 per sq.ft (2024)
• Balan Nagar: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,200 per sq.ft (2024)
• Bharathi 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, charged at 7%, would be Rs 49,000, and the registration fee at 2% would be Rs 14,000. Together, these fees total Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balammal Nagar?

Balammal Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value plays a crucial role in the registration of property transactions in Ponneri_2. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold or purchased, the guideline value is used to calculate the necessary fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations 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 increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in both 2023 and 2024, marking a 49% increase overall since 2017.

What is the land classification of Balammal Nagar?

Balammal Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in Balammal Nagar.

How is stamp duty calculated in Balammal Nagar?

Stamp duty in Balammal Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 700 per sq.ft incurs a total stamp duty of Rs 49,000.