Guideline Value for Balaguruswamy Street / Gandhi Nagar

Balaguruswamy Street / Gandhi Nagar guideline value

The current guideline value of Balaguruswamy Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - II.

How the guideline value of Balaguruswamy Street / Gandhi Nagar has changed

The guideline value for Balaguruswamy Street / Gandhi Nagar has undergone several revisions over the years. Starting from 2002, the guideline value was Rs 188 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a 13% rise. In 2007, the value jumped significantly to Rs 360 per sq.ft, which was a 69% increase from the previous figure. The value continued to rise to Rs 1,507 per sq.ft in 2017, reflecting a substantial 319% increase. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 2,475 per sq.ft, which is a 10% increase from 2023. It is important to note that there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 2,090 per sq.ft, indicating that Balaguruswamy Street / Gandhi Nagar's 2024 figure is above this median.

• Balaguruswamy Street, Annai Sathya Nagar: Rs 1,980 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Bajanai Koil Street / Thiru Nagar: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street, Nagelkeni: Rs 2,200 per sq.ft (2024)
• Balaji Street Extn., /VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Balaguruswamy Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total charges to Rs 2,22,750. 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 details.

Which Sub Registrar Office covers Balaguruswamy Street / Gandhi Nagar?

The Balaguruswamy Street / Gandhi Nagar area falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must ensure that the sale price is not lower than the guideline value, as the higher amount will be considered for tax calculations.

Frequently asked questions

What is the current guideline value of Balaguruswamy Street / Gandhi Nagar?

The current guideline value of Balaguruswamy Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 188 per sq.ft to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 1216% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, and Balaguruswamy Street / Gandhi Nagar's 2024 value is above this median.

What are the stamp duty and registration fees for property in Balaguruswamy Street / Gandhi Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 2,22,750 based on the current guideline value.

Which office handles property registrations for Balaguruswamy Street / Gandhi Nagar?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone, handles property registrations for this area.