Guideline Value for Balarama Naidu Street

Balarama Naidu Street guideline value

The current guideline value of Balarama Naidu Street is Rs 2,001 per sq.ft, effective from 1 July 2024. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Balarama Naidu Street has changed

The guideline value for Balarama Naidu Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 2,001 per sq.ft, reflecting no change from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 49%. It is important to note that there are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, placing Balarama Naidu Street's 2024 figure above this median.

• Balaji Street: Rs 2,001 per sq.ft (2024)
• Bajanai kovil Street: Rs 1,200 per sq.ft (2024)
• Bharathidasan Street (Ward 14, 16): Rs 1,500 per sq.ft (2024)
• Bharathiyar Street: Rs 1,500 per sq.ft (2024)
• Avvaiyar Street (Ward 11, Ward 16): Rs 1,200 per sq.ft (2024)
• Chakarabani Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Balarama Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, while the registration fee at 2% would be Rs 40,020, bringing the total to Rs 1,80,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balarama Naidu Street?

Balarama Naidu Street falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balarama Naidu Street?

The current guideline value of Balarama Naidu Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024. The value remained at Rs 2,000 per sq.ft in 2023.

What is the land classification for Balarama Naidu Street?

Balarama Naidu Street is classified as Residential Special Type - II. This classification can affect the types of developments permitted in the area.

Where can I find the registration office for Balarama Naidu Street?

The registration office for Balarama Naidu Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gooduvancheri?

Stamp duty for properties in Gooduvancheri is calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate fees are collected during the registration process.