Guideline Value for Balaraman Street

Balaraman Street guideline value

The current guideline value of Balaraman Street in Peravallur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Balaraman Street has changed

The guideline value for Balaraman Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, the value dropped to Rs 1,675 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision, an increase of 8% from the previous year.

There are no recorded figures for Balaraman Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, placing Balaraman Street's 2024 figure below that median.

• Balaram Reddy Colony: Rs 2,700 per sq.ft (2024)
• Balaram Reddy Street: Rs 2,700 per sq.ft (2024)
• Balasubramaniyan Salai: Rs 2,700 per sq.ft (2024)
• Ballard Street: Rs 2,700 per sq.ft (2024)
• Balvargise Colony: Rs 2,700 per sq.ft (2024)
• Balvargise Street: Rs 2,700 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaraman Street?

Balaraman Street is covered by the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value, as it affects the overall cost of the transaction. It is advisable to consult the latest guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaraman Street?

The current guideline value of Balaraman Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 170% across the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which office handles registrations for Balaraman Street?

The Sembiam Sub Registrar Office handles registrations for Balaraman Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Balaraman Street?

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