Guideline Value for BALIAMMAN STREET

Baliamman Street guideline value

The current guideline value of Baliamman Street in Korattur village, under the Villivakkam SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Baliamman Street has changed

Over the years, the guideline value of Baliamman Street has seen significant revisions. The earliest recorded figure is from the 2007 revision, which was Rs 250 per sq.ft. This figure increased dramatically to Rs 1,200 per sq.ft in the 2012 revision, marking a 380% rise. However, there was no change in the guideline value from 2012 to 2023, as it remained at Rs 1,200 per sq.ft. The most recent revision in 2024 saw an increase to Rs 1,300 per sq.ft, which is an 8% rise from the previous year.

It is important to note that the register has no figures for Baliamman Street for the years 2002, 2003, and 2017. Overall, from 2007 to 2024, the guideline value has increased by 420%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the 2024 figure for Baliamman Street below that median.

• BALAVINGAYAR NAGAR (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Balavingayar Koil Street: Rs 1,600 per sq.ft (2024)
• Balavinayagar Nagar Extention: Rs 2,010 per sq.ft (2024)
• Balan Nagar: Rs 1,600 per sq.ft (2024)
• Barani Jothi Nagar: Rs 2,900 per sq.ft (2024)
• Balaji Nagar Near Railway Track 1,2,3 Streets: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Baliamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Baliamman Street?

The Sub Registrar Office that covers Baliamman Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Korattur. It is the minimum value at which properties are registered, and it helps determine the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is bought or sold, the guideline value is used as a reference point to calculate the taxes involved. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Baliamman Street?

The current guideline value of Baliamman Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing a total increase of 420% over the years.

What is the land classification of Baliamman Street?

Baliamman Street is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office for Baliamman Street located?

The Sub Registrar Office for Baliamman Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties on Baliamman Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 91,000 based on the current guideline value.