Guideline Value for BALASUBRAMANIAN NAGAR

Balasubramanian Nagar guideline value

The current guideline value of Balasubramanian Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Alamathi village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Balasubramanian Nagar has changed

The guideline value for Balasubramanian Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision and further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value experienced a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, the increase is 10%.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Balasubramanian Nagar is above this median.

• Bhajanai Koil Street: Rs 990 per sq.ft (2024)
• Bharathiar Street: Rs 990 per sq.ft (2024)
• Bakiyalakshmi Nagar: Rs 660 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 550 per sq.ft (2024)
• B.K. Garden: Rs 550 per sq.ft (2024)
• Edapalayam Road: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramanian Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 information.

Which Sub Registrar Office covers Balasubramanian Nagar?

The Sub Registrar Office that covers Balasubramanian Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Alamathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balasubramanian Nagar?

The current guideline value of Balasubramanian Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Balasubramanian Nagar?

Balasubramanian Nagar is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Balasubramanian Nagar?

The Sub Registrar Office for Balasubramanian Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Balasubramanian Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft would incur a total stamp duty of Rs 53,900.