Guideline Value for Balammal Nagar Road

Balammal Nagar Road guideline value

The current guideline value of Balammal Nagar Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balammal Nagar Road has changed

The guideline value of Balammal Nagar Road 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 experienced significant growth, reaching Rs 1,000 per sq.ft in 2007. Following this, the value rose to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then increased substantially to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The 2023 to 2024 revision saw a rise of 12%. The earlier revisions from 2002 to 2007 showed significant increases, with the 2002 to 2003 revision at +12%, 2003 to 2007 at +285%, and 2007 to 2012 at +150%. 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 guideline value is Rs 2,800 per sq.ft, which is equal to the current value of Balammal Nagar Road.

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

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 is charged at 7%, resulting in Rs 1,96,000, while the registration fee at 2% amounts to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balammal Nagar Road?

The Sub Registrar Office that covers Balammal Nagar Road 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. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must take this value into account to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Balammal Nagar Road?

The current guideline value of Balammal Nagar Road 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 from Rs 232 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 1107% over this period.

What is the land classification for Balammal Nagar Road?

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

What are the stamp duty and registration fees for property in Balammal Nagar Road?

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 for Balammal Nagar Road located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.