Guideline Value for BALFOUR ROAD

Balfour Road guideline value

The current guideline value of Balfour Road, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Balfour Road has changed

The guideline value for Balfour Road has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, in 2017, the value dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 8,000 per sq.ft in 2023, and most recently, it has increased to Rs 8,800 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, indicating that Balfour Road's 2024 figure of Rs 8,800 per sq.ft is above this median.

• Balfour Avenue: Rs 8,800 per sq.ft (2024)
• Bangaramman Koil Street: Rs 4,900 per sq.ft (2024)
• Baracka Road: Rs 7,700 per sq.ft (2024)
• Baracka Road 1st Street: Rs 5,500 per sq.ft (2024)
• Baracka Road 1st Street Lane: Rs 5,500 per sq.ft (2024)
• Baracka Road 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Balfour Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balfour Road?

The Sub Registrar Office that covers Balfour Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

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

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Balfour Road?

The current guideline value of Balfour Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 193% over the years.

What are the stamp duty and registration fees for properties on Balfour Road?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office handles registrations for Balfour Road?

The Purasaivakkam Sub Registrar Office at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Balfour Road.

What is the land classification for Balfour Road?

Balfour Road is classified under Residential Class I Type - II, which indicates its suitability for residential purposes.