Guideline Value for Balaraman Nagar Annex

Balaraman Nagar Annex guideline value

The current guideline value of Balaraman Nagar Annex is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class III Type - I.

How the guideline value of Balaraman Nagar Annex has changed

Since the 2017 revision, the guideline value has seen significant increases. The 2017 revision set the value at Rs 1,206 per sq.ft, which rose to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 further increased the value by 10%, bringing it to Rs 1,980 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the 2024 figure for Balaraman Nagar Annex below that median.

• Balaraman Nagar: Rs 2,200 per sq.ft (2024)
• Bazaar street: Rs 3,250 per sq.ft (2024)
• BG nagar Veerevu: Rs 2,200 per sq.ft (2024)
• Bhagwan nagar: Rs 2,200 per sq.ft (2024)
• Bhajanai koil street: Rs 2,200 per sq.ft (2024)
• Bajnai koil street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaraman Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. It is important to note that 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 Balaraman Nagar Annex?

The Balaraman Nagar Annex is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It helps determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Balaraman Nagar Annex?

The current guideline value of Balaraman Nagar Annex is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the registration fees for property transactions in Balaraman Nagar Annex?

The registration fees for property transactions include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Balaraman Nagar Annex?

The Poonamallee Sub Registrar Office handles property registrations for Balaraman Nagar Annex, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the registration reflects the accurate value of the property being sold or purchased.