Guideline Value for Balakumaran Nagar Part - A

Balakumaran Nagar Part - A guideline value

The current guideline value of Balakumaran Nagar Part - A is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this locality is Residential Class I Type - I.

How the guideline value of Balakumaran Nagar Part - A has changed

The guideline value for Balakumaran Nagar Part - A has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Balakumaran Nagar Part - A.

• Balakumaran Nagar Part - B: Rs 3,300 per sq.ft (2024)
• Balakumaran Nagar Part - C: Rs 3,300 per sq.ft (2024)
• Balamurugan Nagar: Rs 3,300 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Balamurugan Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar Extension: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Balakumaran Nagar Part - A

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakumaran Nagar Part - A?

The Sub Registrar Office that covers Balakumaran Nagar Part - A is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

When buying or selling property in Kolathur, the guideline value plays a crucial role in the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the property is registered at a value that reflects the current market conditions as per the government regulations. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Balakumaran Nagar Part - A?

The current guideline value of Balakumaran Nagar Part - A is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% since 2007.

What is the land classification for Balakumaran Nagar Part - A?

Balakumaran Nagar Part - A is classified as Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Balakumaran Nagar Part - A?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,000.