Guideline Value for Balammal 1st Cross Street (Bhavani nagar)

Balammal 1st Cross Street (Bhavani nagar) guideline value

The current guideline value for Balammal 1st Cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, and the land classification is Residential Special Type - III.

How the guideline value of Balammal 1st Cross Street (Bhavani nagar) has changed

The guideline value for Balammal 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current guideline value of Rs 1,600 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2007 to 2012, the value increased by 275%. However, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Balammal 1st Cross Street's 2024 guideline value of Rs 1,600 per sq.ft is above this median.

• Balammal 2nd Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balaji Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Balan Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Barathiyar Nagar: Rs 1,300 per sq.ft (2024)
• Balaji Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balammal 1st Cross Street (Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 further calculations.

Which Sub Registrar Office covers Balammal 1st Cross Street (Bhavani nagar)?

The Sub Registrar Office that covers Balammal 1st Cross Street (Bhavani nagar) is the Ambattur Sub Registrar Office. The address is 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 Ayappakkam

The guideline value is a crucial factor when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value, as it directly influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the current market conditions.

Frequently asked questions

What is the current guideline value of Balammal 1st Cross Street (Bhavani nagar)?

The current guideline value of Balammal 1st Cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Balammal 1st Cross Street?

Balammal 1st Cross Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Ambattur Sub Registrar Office covers Balammal 1st Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.