Guideline Value for Balaji Street Ramapuram

Balaji Street Ramapuram guideline value

The current guideline value of Balaji Street Ramapuram is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Street Ramapuram has changed

Over the years, the guideline value of Balaji Street Ramapuram has seen several revisions. The 2012 revision set the value at Rs 3,300 per sq.ft, which then decreased to Rs 2,211 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,300 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,600 per sq.ft.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024, and by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. Balaji Street Ramapuram's 2024 guideline value is equal to this median.

• Bala subramaniam Street: Rs 4,000 per sq.ft (2024)
• Bala vinayagar Kovil Street: Rs 4,000 per sq.ft (2024)
• Bank Street (Ram Nagar): Rs 4,600 per sq.ft (2024)
• Barathiyar Street: Rs 3,600 per sq.ft (2024)
• Bavani Nagar: Rs 2,500 per sq.ft (2024)
• Bazzar Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street Ramapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, totaling Rs 3,24,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Street Ramapuram?

The Sub Registrar Office that covers Balaji Street Ramapuram is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Ambattur, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is set by the government and reflects the minimum price at which properties can be registered.

During the registration process, the stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Street Ramapuram?

The current guideline value of Balaji Street Ramapuram is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,600 per sq.ft in 2024, an increase of 9%. It was Rs 2,211 per sq.ft in 2017, which was a 49% increase from 2017 to 2023.

What is the land classification of Balaji Street Ramapuram?

Balaji Street Ramapuram is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Balaji Street Ramapuram?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 36,00,000, the total fees would amount to Rs 3,24,000.

Where is the Sub Registrar Office for Balaji Street Ramapuram located?

The Sub Registrar Office covering Balaji Street Ramapuram is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.