Guideline Value for Balammal Nagar 3th Cross Street

Balammal Nagar 3th Cross Street guideline value

The current guideline value for Balammal Nagar 3th 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, classified as Residential Class II Type - I.

How the guideline value of Balammal Nagar 3th Cross Street has changed

The guideline value for Balammal Nagar 3th 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 continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, a substantial increase of 285%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a 150% increase from the previous revision. However, from 2012 to 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%.

In the subsequent years, the guideline value rose again, reaching Rs 2,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, representing a 12% increase from 2023. There are no figures available for the years not listed in the register for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with guideline values 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 equal to the 2024 guideline value for Balammal Nagar 3th Cross Street.

• Balammal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar 5th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balammal Nagar 3th 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 amounts to Rs 28,00,000. The stamp duty at 7% would be 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 the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balammal Nagar 3th Cross Street?

The Sub Registrar Office that covers Balammal Nagar 3th 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 is a crucial factor in the registration of property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable charges, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Balammal Nagar 3th Cross Street?

The current guideline value for Balammal Nagar 3th 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 increased from Rs 232 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1107% over the years.

What are the stamp duty and registration fees for properties in this area?

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.

Which Sub Registrar Office covers Balammal Nagar 3th Cross Street?

The Alandur Sub Registrar Office covers Balammal Nagar 3th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Balammal Nagar 3th Cross Street?

Balammal Nagar 3th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.