Guideline Value for Balagangatharar Street

Balagangatharar Street guideline value

The current guideline value of Balagangatharar Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Balagangatharar Street has changed

The guideline value for Balagangatharar Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 315 per sq.ft, which increased to Rs 359 per sq.ft in 2003. By 2007, the value rose significantly to Rs 900 per sq.ft, followed by a jump to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 14% from 2002 to 2003, followed by a 151% increase from 2003 to 2007. The value saw a substantial rise of 289% from 2007 to 2012, but then it decreased by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and there was an 11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1138%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Balagangatharar Street.

• Balaji nagar: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 14th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balagangatharar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balagangatharar Street?

The Sub Registrar Office that covers Balagangatharar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balagangatharar Street?

The current guideline value of Balagangatharar Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 315 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1138% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Balagangatharar Street?

The Alandur Sub Registrar Office handles the registration for Balagangatharar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties in Adambakkam?

The guideline value is determined based on various factors and is revised periodically. It serves as a reference point for property transactions and is essential for calculating stamp duty and registration fees.