Guideline Value for BALARAMAN STREET

Balaraman Street guideline value

The current guideline value of Balaraman Street in Manali village, under the Thiruvottiyur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - III.

How the guideline value of Balaraman Street has changed

The guideline value for Balaraman Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 85 per sq.ft. This increased to Rs 97 per sq.ft in 2003, representing a 14% increase. The value saw a significant jump to Rs 200 per sq.ft in 2007, marking a 106% rise. In 2012, it reverted to Rs 1,400 per sq.ft, which was a substantial increase of 600% from the previous figure. The 2017 revision set the value at Rs 938 per sq.ft, reflecting a decrease of 33% from 2012.

In 2023, the guideline value rose to Rs 1,400 per sq.ft, and the most recent revision in 2024 established the current value at Rs 1,500 per sq.ft, representing a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 1665%. There are no figures available for revisions in years not mentioned in this register.

Guideline values in Manali

In the village of Manali, there are 84 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median value is Rs 1,200 per sq.ft, making Balaraman Street's 2024 figure above this median.

• Bharathidasan Street: Rs 1,500 per sq.ft (2024)
• Bharathiyar Street: Rs 1,500 per sq.ft (2024)
• Chandran Street: Rs 1,200 per sq.ft (2024)
• Aringnar Anna Nagar / Cross Street: Rs 1,200 per sq.ft (2024)
• Chinna Kannu Street: Rs 1,500 per sq.ft (2024)
• Anna Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaraman Street?

The Sub Registrar Office that covers Balaraman Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manali. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value as it directly impacts the costs associated with property transfer.

Frequently asked questions

What is the current guideline value of Balaraman Street?

The current guideline value of Balaraman Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value of Balaraman Street changed over the years?

The guideline value has seen several revisions, starting from Rs 85 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, which is an overall increase of 1665%.

What are the stamp duty and registration fees for property in Balaraman Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,35,000.

Which office handles property registrations for Balaraman Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Balaraman Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Balaraman Street?

The land classification for Balaraman Street is Mixed Special Type - III, which is important for understanding the guidelines applicable to property transactions in this area.