Guideline Value for BALASUBRAMANIAN STREET

Balasubramanian Street guideline value

The current guideline value of Balasubramanian Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balasubramanian Street has changed

The guideline value for Balasubramanian Street has seen several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which was then reduced to Rs 8,040 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 12,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 13,200 per sq.ft, marking a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. Notably, there are no figures available for Balasubramanian Street in the revisions of 2002, 2003, and 2007.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Balasubramanian Street's 2024 guideline value is above this median.

• Bangaru Ammal Street: Rs 7,100 per sq.ft (2024)
• Balakrishna Road: Rs 14,300 per sq.ft (2024)
• Barbar Bridge 1st Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 2nd Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 3rd Lane: Rs 4,900 per sq.ft (2024)
• Barbar Bridge 4th Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramanian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. The stamp 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 Balasubramanian Street?

The Sub Registrar Office that covers Balasubramanian Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mylapore. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark, and it is essential for both buyers and sellers to be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Balasubramanian Street?

The current guideline value of Balasubramanian Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office covers Balasubramanian Street?

The Mylapore Sub Registrar Office covers Balasubramanian Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Balasubramanian Street?

Balasubramanian Street is classified as Residential Class II Type - I.