Guideline Value for Balammal Nagar 4th Cross Street

Balammal Nagar 4th Cross Street guideline value

The current guideline value of Balammal Nagar 4th 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 4th Cross Street has changed

The guideline value for Balammal Nagar 4th Cross Street has undergone 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 saw a significant jump to Rs 1,000 per sq.ft in 2007, representing a 285% increase. By 2012, the value was Rs 2,500 per sq.ft, showing a 150% rise from the previous revision. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,800 per sq.ft in 2024, which is a 12% rise.

There are no figures available for the revisions in 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 is Rs 2,800 per sq.ft, which is equal to the 2024 guideline value of Balammal Nagar 4th Cross Street.

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

Stamp duty and registration fee for property in Balammal Nagar 4th 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. Together, the total fees would be 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balammal Nagar 4th Cross Street?

The Sub Registrar Office that covers Balammal Nagar 4th 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ullagaram. It serves as a reference point 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. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balammal Nagar 4th Cross Street?

The current guideline value of Balammal Nagar 4th 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 over the years, with an overall increase of 1107% from 2002 to 2024. The most recent revision saw a 12% increase from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024.

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. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles transactions for this street?

The Alandur Sub Registrar Office handles transactions for Balammal Nagar 4th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Balammal Nagar 4th Cross Street?

Balammal Nagar 4th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.