Guideline Value for Balakumaran Nagar Part - B

Balakumaran Nagar Part - B guideline value

The current guideline value of Balakumaran Nagar Part - B is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

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

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

There are no recorded figures for Balakumaran Nagar Part - B in the years 2002 and 2003. Overall, from the 2007 figure to the current 2024 value, there has been an increase of 230% in the guideline value.

Guideline values in Kolathur

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

• Balakumaran Nagar Part - A: 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 - B

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. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to 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 information.

Which Sub Registrar Office covers Balakumaran Nagar Part - B?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure compliance with legal requirements during property transactions. It also provides a reference point for assessing property values in the area.

Frequently asked questions

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

The current guideline value of Balakumaran Nagar Part - B 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty and registration fees for a property in Balakumaran Nagar Part - B?

For a 1,000 sq.ft plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Balakumaran Nagar Part - B?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Balakumaran Nagar Part - B.

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

Balakumaran Nagar Part - B is classified as Residential Class I Type - I, which is relevant for determining the guideline value and applicable regulations.