Guideline Value for Balaraman Street

Balaraman Street guideline value

The current guideline value of Balaraman Street in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Balaraman Street has changed

The guideline value for Balaraman Street has undergone several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a remarkable increase of 254%. However, by 2017, the value dropped to Rs 1,541 per sq.ft, a decrease of 33%. The value then rose substantially to Rs 2,300 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,530 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for Balaraman Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 289%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, positioning Balaraman Street above this median.

• Balaji Nagar Narmadha Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Kaveri Street: Rs 2,200 per sq.ft (2024)
• Barathidasan Street: Rs 2,530 per sq.ft (2024)
• Balaji Nagar (Bhavani Street): Rs 2,200 per sq.ft (2024)
• Bavani Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, resulting in a total of Rs 2,27,700. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaraman Street?

Balaraman Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Balaraman Street?

The current guideline value of Balaraman Street is Rs 2,530 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 650 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, showing an overall increase of 289% over this period.

What is the median guideline value in Irumpuliyur?

The median guideline value for the 218 streets in Irumpuliyur is Rs 2,200 per sq.ft, with Balaraman Street positioned above this median.

What are the stamp duty and registration fees for a property in Balaraman Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000, leading to a stamp duty of Rs 1,77,100 and a registration fee of Rs 50,600, totaling Rs 2,27,700.

Which office handles the registration for Balaraman Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Balaraman Street, located at No.26, mes Road, East Tambaram, Chennai-600059.