Guideline Value for Balammal Nagar 5th Street

Balammal Nagar 5th Street guideline value

The current guideline value of Balammal Nagar 5th 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 5th Street has changed

The guideline value for Balammal Nagar 5th Street has undergone 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, marking a 12% rise. The value then saw a significant jump to Rs 1,000 per sq.ft in 2007, reflecting a 285% increase. By 2012, the value adjusted to Rs 2,500 per sq.ft, which was a decrease of 150% from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, indicating a 33% decline. However, from 2017 to 2023, the value rose by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 brought the guideline value to Rs 2,800 per sq.ft, a 12% increase from the previous year.

There are no figures available for the years not listed in the register for this street. Overall, since 2002, the guideline value has increased by 1107%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO carrying a 2024 guideline value 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 current guideline value of Balammal Nagar 5th Street.

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

Stamp duty and registration fee for property in Balammal Nagar 5th 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, making the total cost for these fees 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 to get an estimate of the fees applicable to your property transaction.

Which Sub Registrar Office covers Balammal Nagar 5th Street?

The Sub Registrar Office that covers Balammal Nagar 5th 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 property transactions in Ullagaram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Buyers and sellers should be aware that the guideline value may vary between different streets and areas within Ullagaram. It is essential to check the specific guideline value for the property in question to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Balammal Nagar 5th Street?

The current guideline value of Balammal Nagar 5th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased by 1107%, with significant changes occurring in various years, including a 12% increase from 2023 to 2024.

What is the classification of Balammal Nagar 5th Street?

Balammal Nagar 5th Street is classified as Residential Class II Type - I under the Alandur SRO.

Where can I find the Sub Registrar Office for Balammal Nagar 5th Street?

The Sub Registrar Office for Balammal Nagar 5th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Balammal Nagar 5th Street?

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