Guideline Value for Balan Street(Bhavani nagar)

Balan Street(Bhavani nagar) guideline value

The current guideline value of Balan Street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, classified as Residential Special Type - III.

How the guideline value of Balan Street(Bhavani nagar) has changed

The guideline value of Balan Street(Bhavani nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose to Rs 1,500 per sq.ft in 2023 and is now Rs 1,600 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

Between the revisions, the changes are notable: from 2007 to 2012, there was a substantial increase of 275%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Balan Street(Bhavani nagar) above this median at Rs 1,600 per sq.ft.

• Balammal Street(bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal 2nd Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal 1st Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balaji Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Barathiyar Nagar: Rs 1,300 per sq.ft (2024)
• Balaji Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balan Street(Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Balan Street(Bhavani nagar)?

The Sub Registrar Office that covers Balan Street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the purchase of property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately. Buyers should be aware that the duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balan Street(Bhavani nagar)?

The current guideline value of Balan Street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What is the land classification of Balan Street(Bhavani nagar)?

Balan Street(Bhavani nagar) is classified as Residential Special Type - III under the land classification guidelines.

Where can I find the Sub Registrar Office for Balan Street(Bhavani nagar)?

The Sub Registrar Office for Balan Street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ayappakkam?

Stamp duty for properties in Ayappakkam is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.