Guideline Value for Balamuthu Street

Balamuthu Street guideline value

The current guideline value of Balamuthu Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Balamuthu Street has changed

The guideline value for Balamuthu Street has seen several revisions over the years. Starting from Rs 741 per sq.ft in 2002, it increased to Rs 813 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 2,213 per sq.ft in 2007, reflecting a change of +172%. By 2012, the value remained at Rs 6,000 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 6,000 per sq.ft, maintaining the same rate as 2012.

The most recent revision in 2024 saw the guideline value increase to Rs 6,600 per sq.ft, which is a change of +10% from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by +791%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Balamuthu Street.

• Bandala Venugopal Street: Rs 6,600 per sq.ft (2024)
• Bandi Venkatesan 1st Street & Lane: Rs 8,800 per sq.ft (2024)
• Bandi Venkatesan Street: Rs 8,800 per sq.ft (2024)
• Bangaru Street: Rs 7,700 per sq.ft (2024)
• Barbar Agan Street: Rs 5,500 per sq.ft (2024)
• Bells Road (Jagajivanram Road): Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balamuthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value is Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, leading to a total of Rs 5,94,000. 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 for more details.

Which Sub Registrar Office covers Balamuthu Street?

The Sub Registrar Office that covers Balamuthu Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the transaction complies with the legal requirements. This value helps in calculating the necessary fees and ensures transparency in property dealings.

Frequently asked questions

What is the current guideline value of Balamuthu Street?

The current guideline value of Balamuthu Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 741 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +791% over this period.

What is the land classification for Balamuthu Street?

Balamuthu Street falls under the Residential Class I Type - I land classification as per the guidelines.

Where is the Sub Registrar Office for Balamuthu Street located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated for properties in Triplicane?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000.