Guideline Value for Balaram Reddy Street

Balaram Reddy Street guideline value

The current guideline value of Balaram Reddy Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaram Reddy Street has changed

The guideline value for Balaram Reddy Street has experienced several revisions over the years. In 2002, the 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 it further increased to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before rising to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 8%. The overall change from 2002 to 2024 shows a substantial increase of 658% in the guideline value.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO with a guideline value for 2024 ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, indicating that Balaram Reddy Street's 2024 figure is below this median.

• Balaram Reddy Colony: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 fees together to Rs 2,43,000. 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 Balaram Reddy Street?

The Sub Registrar Office that covers Balaram Reddy Street 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 plays a crucial role in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. 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 Reddy Street?

The current guideline value of Balaram Reddy Street 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 from Rs 356 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 658% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 27,00,000. The stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Balaram Reddy Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 handles registrations for Balaram Reddy Street.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, which indicates that Balaram Reddy Street's 2024 figure is below this median.