Guideline Value for Balaram Nagar

Balaram Nagar guideline value

The current guideline value of Balaram Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Balaram Nagar has changed

Over the years, the guideline value of Balaram Nagar has seen significant changes. In 2003, the value was Rs 90 per sq.ft, which increased to Rs 700 per sq.ft in 2007. Following that, it rose to Rs 2,000 per sq.ft in 2012, before decreasing to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%. The most notable change occurred from 2003 to 2007, where the value surged by 678%. Overall, from 2003 to 2024, the guideline value has increased by 2344%. The register has no figure for this street in 2002.

Guideline values in Kilkattalai

Kilkattalai has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. Balaram Nagar's 2024 figure is below this median.

• Balamurugan Nagar 1 To 9 Streets: Rs 2,750 per sq.ft (2024)
• Balamurugan Nagar: Rs 2,750 per sq.ft (2024)
• Baskar Nagar: Rs 2,530 per sq.ft (2024)
• Baskar Nagar 1 And 2nd Streets: Rs 2,530 per sq.ft (2024)
• Baskar Nagar 1st & 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Balaram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaram Nagar?

Balaram Nagar is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kilkattalai. It determines the stamp duty and registration fees applicable, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaram Nagar?

The current guideline value of Balaram Nagar is Rs 2,200 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 90 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2344% over the years.

What is the land classification of Balaram Nagar?

Balaram Nagar is classified as Residential Class I Type - III, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Balaram Nagar?

The Sub Registrar Office covering Balaram Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Balaram Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.