Guideline Value for Balaraman Road

Balaraman Road guideline value

The current guideline value of Balaraman Road in Pallipattu village, under the Adayar SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Balaraman Road has changed

The guideline value for Balaraman Road has seen significant changes over the years. In 2002, the value was Rs 1,240 per sq.ft, which increased to Rs 1,356 per sq.ft in 2003, marking a change of +9%. The value then rose dramatically to Rs 4,500 per sq.ft in 2007, a substantial increase of +232%. Following this, the value experienced another increase to Rs 7,000 per sq.ft in 2012, reflecting a rise of +56%. However, it decreased to Rs 4,690 per sq.ft in 2017, which was a decline of -33%.

From 2017 to 2023, the guideline value surged to Rs 7,000 per sq.ft, an increase of +49%. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, representing a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +521%. There are no figures available for the years not listed in the register for this street.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO, with guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 9,400 per sq.ft, making the current value of Balaraman Road below that median.

• Bakthavachalam Nagar 7th Main Road: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 6th Main Road: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 5th Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 4th Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Balaraman Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. 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 Balaraman Road?

The Balaraman Road falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Pallipattu, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction process.

When registering a property, the guideline value ensures that the government receives the appropriate taxes based on the property's value. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaraman Road?

The current guideline value of Balaraman Road is Rs 7,700 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 1,240 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of +521% over the years.

What is the land classification for Balaraman Road?

Balaraman Road is classified as Residential Special Type - II, which is important for understanding its usage and potential development.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties on Balaraman Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at 7%.