Guideline Value for BALASUNDARA NAGAR

Balasundara Nagar guideline value

The current guideline value of Balasundara Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kolathuvancheri village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Balasundara Nagar has changed

Over the years, the guideline value of Balasundara Nagar has seen several revisions. The earliest recorded figure is from 2007, which was Rs 500 per sq.ft. This value increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by another rise to the current figure of Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a remarkable increase of 230%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Balasundara Nagar.

• Bala Murugan Nagar: Rs 3,410 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Balaji Nagar /Extn: Rs 1,650 per sq.ft (2024)
• Balaji Nagar Cross Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Balasundara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balasundara Nagar?

Balasundara Nagar falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Balasundara Nagar?

The current guideline value of Balasundara Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 230%.

What is the stamp duty rate for properties in Balasundara Nagar?

The stamp duty rate for properties in Balasundara Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Balasundara Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the other streets with guideline values in Kolathuvancheri?

Other streets in Kolathuvancheri include Bala Murugan Nagar, Balaji Nagar Main Road, Balaji Nagar /Extn, Balaji Nagar Cross Street, Balaji Nagar 3rd Street, and Balaji Nagar 2nd Street, with various guideline values ranging from Rs 1,320 to Rs 3,410 per sq.ft.