Guideline Value for BALASUBRAMANIYAM NAGAR PHASE II

Balasubramaniyam Nagar Phase II guideline value

The current guideline value for Balasubramaniyam Nagar Phase II is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - III.

How the guideline value of Balasubramaniyam Nagar Phase II has changed

Over the years, the guideline value for Balasubramaniyam Nagar Phase II has seen several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, while the latest 2024 revision increased it to Rs 2,750 per sq.ft, marking a change of +10% from the previous year.

This increase reflects the current market conditions and the ongoing adjustments in property values. The guideline value has risen from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, indicating a significant change within just one year.

Guideline values in Nedunkumdram

Nedunkumdram village has a total of 75 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 5,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Balasubramaniyam Nagar Phase II above this median.

• Auris: Rs 3,080 per sq.ft (2024)
• Ashok Nandhavanam: Rs 1,440 per sq.ft (2024)
• Casagrand Vistaaz: Rs 3,300 per sq.ft (2024)
• Ashok Nagar: Rs 1,100 per sq.ft (2024)
• Chennai-2 Green City Phase-I: Rs 1,110 per sq.ft (2024)
• Devaraj Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniyam Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balasubramaniyam Nagar Phase II?

The Sub Registrar Office that covers Balasubramaniyam Nagar Phase II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nedunkumdram. It serves as a benchmark for determining 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 is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the overall transaction cost.

Frequently asked questions

What is the current guideline value of Balasubramaniyam Nagar Phase II?

The current guideline value of Balasubramaniyam Nagar Phase II is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, representing a +10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Balasubramaniyam Nagar Phase II?

Balasubramaniyam Nagar Phase II is classified as Residential Class II Type - III. This classification indicates the type of development and usage permitted in the area.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles the registration of properties in Balasubramaniyam Nagar Phase II.