Guideline Value for BALARAMAN GARDEN 3RD RIGHT CROSS STREET

Balaraman Garden 3rd Right Cross Street guideline value

The current guideline value of Balaraman Garden 3rd Right Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaraman Garden 3rd Right Cross Street has changed

The guideline value for Balaraman Garden 3rd Right Cross Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are a total of 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing Balaraman Garden 3rd Right Cross Street above this median.

• Balaraman Garden 2nd Right Cross Street: Rs 3,300 per sq.ft (2024)
• Balaraman Garden Main Salai: Rs 3,300 per sq.ft (2024)
• Balaraman Garden 1st Right Cross Street: Rs 3,300 per sq.ft (2024)
• Balaraman Street/Garden: Rs 3,300 per sq.ft (2024)
• Bajanai Kovil Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaraman Garden 3rd Right Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaraman Garden 3rd Right Cross Street?

The Sub Registrar Office that covers Balaraman Garden 3rd Right Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Manapakkam. It serves as the basis for calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the Registration Department. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Balaraman Garden 3rd Right Cross Street?

The current guideline value of Balaraman Garden 3rd Right Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, marking a 49% increase from that year to 2023.

What is the land classification for Balaraman Garden 3rd Right Cross Street?

The land classification for Balaraman Garden 3rd Right Cross Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Balaraman Garden 3rd Right Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.