Guideline Value for Balammal Nagar 4th Street

Balammal Nagar 4th Street guideline value

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

The guideline value for Balammal Nagar 4th 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. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024.

Between the revisions, notable changes include a 12% increase from 2023 to 2024, and a 49% increase from 2017 to 2023. The largest increase occurred from 2003 to 2007, which saw a rise of 285%. Overall, from 2002 to 2024, the guideline value has increased by 1107%.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO, with 2024 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 matches the current guideline value for Balammal Nagar 4th Street.

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

Stamp duty and registration fee for property in Balammal Nagar 4th 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balammal Nagar 4th Street?

The Sub Registrar Office that covers Balammal Nagar 4th 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 property transactions in Ullagaram. It is used as a basis for calculating stamp duty and registration fees when a property is bought or sold. The guideline value ensures that the transaction is recorded accurately in the government records.

When a buyer or seller engages in a property transaction, the guideline value helps determine the official value of the property, which is essential for legal and financial purposes. This value is particularly important for ensuring transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Balammal Nagar 4th 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 4th Street?

Balammal Nagar 4th Street is classified as Residential Class II Type - I.

Where can I find the registration office for Balammal Nagar 4th Street?

The registration office for Balammal Nagar 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Balammal Nagar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000 at a rate of 7%.