Guideline Value for BALASUBRAMANIYA NAGAR

Balasubramaniya Nagar guideline value

The current guideline value of Balasubramaniya Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Matthur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Balasubramaniya Nagar has changed

The guideline value for Balasubramaniya Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 55 per sq.ft, which increased to Rs 66 per sq.ft in 2003, marking a 20% rise. Following this, the value jumped significantly to Rs 100 per sq.ft in 2007, reflecting a 52% increase. The next revision in 2012 saw the value rise to Rs 1,000 per sq.ft, a substantial 900% increase from the previous figure. However, in 2017, it decreased to Rs 670 per sq.ft, a drop of 33%. The value then increased again to Rs 1,000 per sq.ft in 2023, followed by the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,900%. There are no figures available for revisions in years not listed in the register for this street.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 1,100 per sq.ft. The guideline value for Balasubramaniya Nagar is equal to this median.

• Balamurugan Nagar: Rs 1,100 per sq.ft (2024)
• Bakthavatchulu Nagar: Rs 1,100 per sq.ft (2024)
• Bharathi Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,100 per sq.ft (2024)
• Arulanandham Nagar/ Ext: Rs 1,100 per sq.ft (2024)
• Appollo Armstrong Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 further assistance.

Which Sub Registrar Office covers Balasubramaniya Nagar?

The Sub Registrar Office that covers Balasubramaniya Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Matthur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. When buying or selling property, the guideline value serves as a reference point for both buyers and sellers.

During the registration process, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the taxes are based on the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Balasubramaniya Nagar?

The current guideline value of Balasubramaniya Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 55 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 1,900% across the revisions.

What is the land classification for Balasubramaniya Nagar?

Balasubramaniya Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

What are the stamp duty rates for property transactions in Balasubramaniya Nagar?

The stamp duty for property transactions in Balasubramaniya Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Balasubramaniya Nagar located?

The Thiruvottiyur Sub Registrar Office, which covers Balasubramaniya Nagar, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.