Guideline Value for Balammal Nagar 1st Street

Balammal Nagar 1st Street guideline value

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

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

The guideline value for Balammal Nagar 1st Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 232 per sq.ft. This increased to Rs 260 per sq.ft in 2003, marking a change of +12%. Following this, the value surged to Rs 1,000 per sq.ft in 2007, reflecting a significant increase of +285%. In 2012, the guideline value adjusted to Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision.

From 2012 to 2017, the guideline value remained at Rs 2,500 per sq.ft. However, in 2017, it was raised to Rs 1,675 per sq.ft, which was an increase of +49% by 2023. The latest revision in 2024 set the guideline value at Rs 2,800 per sq.ft, representing a +12% increase from the previous year.

Guideline values in Ullagaram

In Ullagaram village, 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 is Rs 2,800 per sq.ft, which is the same as the guideline value for Balammal Nagar 1st Street.

• Balammal Nagar 1st Cross 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 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, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balammal Nagar 1st Street?

The Sub Registrar Office that covers Balammal Nagar 1st 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid 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 applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

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

The current guideline value of Balammal Nagar 1st 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 from Rs 232 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of +1107% over the years.

What are the stamp duty and registration fees for property in Balammal Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000, with a stamp duty of Rs 1,96,000 and a registration fee of Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Balammal Nagar 1st Street?

The Alandur Sub Registrar Office covers Balammal Nagar 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Balammal Nagar 1st Street is classified as Residential Class II Type - I.