Guideline Value for Balammal Nagar 3rd Street

Balammal Nagar 3rd Street guideline value

The current guideline value for Balammal Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Balammal Nagar 3rd Street has changed

The guideline value for Balammal Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 232 per sq.ft, which increased to Rs 260 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a change of +285%. By 2012, the value was Rs 2,500 per sq.ft, marking a decrease of -33%. The 2017 revision saw the value at Rs 1,675 per sq.ft, followed by a substantial increase to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in 2024, with a change of +12% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1107%. There are no figures available for the revisions in years other than those listed.

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 is Rs 2,800 per sq.ft, which is equal to the guideline value of Balammal Nagar 3rd Street.

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

Stamp duty and registration fee for property in Balammal Nagar 3rd 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. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balammal Nagar 3rd Street?

The Sub Registrar Office that covers Balammal Nagar 3rd 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 is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balammal Nagar 3rd Street?

The current guideline value of Balammal Nagar 3rd 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 land classification for Balammal Nagar 3rd Street?

Balammal Nagar 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office located for Balammal Nagar 3rd Street?

The Sub Registrar Office for Balammal Nagar 3rd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.