Guideline Value for Balaram Reddy Colony

Balaram Reddy Colony guideline value

The current guideline value of Balaram Reddy Colony, located in Peravallur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Balaram Reddy Colony has changed

The guideline value for Balaram Reddy Colony has seen several revisions over the years. In 2002, the guideline value was Rs 356 per sq.ft, which increased to Rs 388 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then it further increased to Rs 2,500 per sq.ft in 2012. However, the value dropped to Rs 1,675 per sq.ft in 2017 before climbing back to Rs 2,500 per sq.ft in 2023.

With the latest revision in 2024, the guideline value has increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 658%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Balaram Reddy Colony is below this median.

• Balaram Reddy Street: Rs 2,700 per sq.ft (2024)
• Balaraman Street: Rs 2,700 per sq.ft (2024)
• Balasubramaniyan Salai: Rs 2,700 per sq.ft (2024)
• Ballard Street: Rs 2,700 per sq.ft (2024)
• Balvargise Colony: Rs 2,700 per sq.ft (2024)
• Balvargise Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balaram Reddy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Balaram Reddy Colony?

The Sub Registrar Office that covers Balaram Reddy Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in calculating the necessary fees and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaram Reddy Colony?

The current guideline value of Balaram Reddy Colony is Rs 2,700 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 356 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 658% over this period.

What are the stamp duty rates for properties in Balaram Reddy Colony?

The stamp duty rate for properties in Balaram Reddy Colony is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaram Reddy Colony?

The Sub Registrar Office for Balaram Reddy Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Balaram Reddy Colony?

Balaram Reddy Colony falls under the Residential Class I Type - I land classification, which is designated for residential use.