Guideline Value for Balammal Nagar 1st Cross Street

Balammal Nagar 1st Cross Street guideline value

The current guideline value of Balammal Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Balammal Nagar 1st Cross Street has changed

The guideline value for Balammal Nagar 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 232 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 12% rise. The value then experienced a significant increase of 285% to reach Rs 1,000 per sq.ft in 2007. Following this, the value rose to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 2,500 per sq.ft, a 49% increase, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1107%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is the same as the 2024 value for Balammal Nagar 1st Cross Street.

• Balammal Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 3th Cross Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balammal Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balammal Nagar 1st Cross Street?

The Sub Registrar Office that covers Balammal Nagar 1st Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Balammal Nagar 1st Cross Street?

The current guideline value for Balammal Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 232 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1107% over this period.

What is the stamp duty for properties in Balammal Nagar 1st Cross Street?

The stamp duty for properties in Balammal Nagar 1st Cross Street is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in Balammal Nagar 1st Cross Street is 2% of the guideline value or sale price, whichever is higher.

Where can I find more information about the Sub Registrar Office?

You can find more information about the Alandur Sub Registrar Office, which covers Balammal Nagar 1st Cross Street, at the provided address or by using the link to find your SRO.