Guideline Value for Balaraman Street

Balaraman Street guideline value

The current guideline value of Balaraman Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Balaraman Street has changed

Over the years, the guideline value of Balaraman Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft. In 2017, this figure decreased to Rs 804 per sq.ft, reflecting a decline of 33%. However, the subsequent 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Balaraman Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which means Balaraman Street's 2024 figure is below that median.

• Balamurugan Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Bank Colony 1st st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Bank Colony 2nd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Bank Colony 3rd st Extn ( Ward No.4 ): Rs 2,200 per sq.ft (2024)
• Bank Colony 3rd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Bank Colony 4th st ( Ward No.3 ): 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 rate, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Balaraman Street?

The Sub Registrar Office that covers Balaraman Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Balaraman Street?

The current guideline value of Balaraman Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, which is an 8% increase.

What was the guideline value in 2017?

In 2017, the guideline value of Balaraman Street was Rs 804 per sq.ft, which was a decrease from Rs 1,200 per sq.ft in 2012.

What is the land classification of Balaraman Street?

Balaraman Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Balaraman Street?

The Sub Registrar Office for Balaraman Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.