Guideline Value for BALARAMAN GARDEN MAIN SALAI

Balaraman Garden Main Salai guideline value

The current guideline value of Balaraman Garden Main Salai 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 Main Salai has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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 increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 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 value for these streets is Rs 2,530 per sq.ft, placing Balaraman Garden Main Salai's 2024 figure above this median.

• Balaraman Garden 3rd Right Cross Street: Rs 3,300 per sq.ft (2024)
• Balaraman Garden 2nd Right Cross Street: 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 Main Salai

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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaraman Garden Main Salai?

The Sub Registrar Office that covers Balaraman Garden Main Salai 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 critical factor during property registration in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaraman Garden Main Salai?

The current guideline value of Balaraman Garden Main Salai 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 seen several revisions, with the most recent being Rs 3,300 per sq.ft in 2024. It was Rs 3,000 per sq.ft in 2023, Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012.

What is the land classification for Balaraman Garden Main Salai?

Balaraman Garden Main Salai is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Balaraman Garden Main Salai is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Which office handles registrations for Balaraman Garden Main Salai?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in Balaraman Garden Main Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.