Guideline Value for Balaramapuram

Balaramapuram guideline value

The current guideline value of Balaramapuram, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Balaramapuram has changed

The guideline value for Balaramapuram has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The guideline value remained at Rs 1,000 per sq.ft for both the 2023 and 2024 revisions, showing no change between these two years.

Specifically, the changes between the revisions are as follows: from 2007 to 2012, there was a substantial increase of 400%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and it remained stable at Rs 1,000 per sq.ft for both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for Balaramapuram is equal to this median.

• Balamurugan Nagar: Rs 1,000 per sq.ft (2024)
• Barathi Nagar: Rs 1,000 per sq.ft (2024)
• Bargavi Avenue: Rs 1,000 per sq.ft (2024)
• Balaji Nagar: Rs 1,000 per sq.ft (2024)
• Bhagavath Ramanujar Town: Rs 1,000 per sq.ft (2024)
• Bharathi Nagar Part -I: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Balaramapuram

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaramapuram?

Balaramapuram falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Adhanoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, the guideline value helps determine the official value of the property, which is crucial for legal and financial processes. It is important for buyers and sellers to be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Balaramapuram?

The current guideline value of Balaramapuram is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, starting from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, followed by a decrease to Rs 670 per sq.ft in 2017. It remained at Rs 1,000 per sq.ft for both 2023 and 2024.

What is the land classification for Balaramapuram?

Balaramapuram is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Balaramapuram?

The Sub Registrar Office covering Balaramapuram is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, in the Chengalpattu registration zone.

How is stamp duty calculated in Balaramapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.