Guideline Value for Balammal 2nd Cross Street (Bhavani nagar)

Balammal 2nd Cross Street (Bhavani nagar) guideline value

The current guideline value of Balammal 2nd Cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Balammal 2nd Cross Street (Bhavani nagar) has changed

The guideline value for Balammal 2nd Cross Street (Bhavani nagar) has seen 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, marking a 275% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. By 2023, the value had risen to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not have 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. The guideline value of Rs 1,600 per sq.ft for Balammal 2nd Cross Street (Bhavani nagar) is above this median.

• Balammal 1st 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 2nd 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 amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees together 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 more detailed calculations.

Which Sub Registrar Office covers Balammal 2nd Cross Street (Bhavani nagar)?

The Balammal 2nd Cross Street (Bhavani nagar) falls under 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 Ayappakkam

The guideline value is a crucial factor during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, as it reflects the prevailing market conditions and trends in the area. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balammal 2nd Cross Street (Bhavani nagar)?

The current guideline value of Balammal 2nd Cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification for Balammal 2nd Cross Street?

The land classification for Balammal 2nd Cross Street (Bhavani nagar) is Residential Special Type - III.

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

The Sub Registrar Office covering Balammal 2nd Cross Street (Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property transactions in this area?

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