Guideline Value for BALARAMAN STREET/GARDEN

Balaraman Street/Garden guideline value

The current guideline value for Balaraman Street/Garden in Manapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaraman Street/Garden has changed

Over the years, the guideline value for Balaraman Street/Garden has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease from Rs 2,010 per sq.ft in 2017. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Notably, 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 seen a 10% increase.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, placing Balaraman Street/Garden's 2024 figure above this median.

• Balaraman Garden Main Salai: Rs 3,300 per sq.ft (2024)
• 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)
• 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 Street/Garden

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% amounts to Rs 2,31,000, and the registration fee at 2% is Rs 66,000, leading to a total of Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Balaraman Street/Garden?

Balaraman Street/Garden is covered by 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 in property registration in Manapakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaraman Street/Garden?

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

How has the guideline value changed over the years?

The guideline value for Balaraman Street/Garden has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for Balaraman Street/Garden?

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

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Balaraman Street/Garden?

The Sub Registrar Office covering Balaraman Street/Garden is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.