Guideline Value for Balaramapuram

Balaramapuram guideline value

The current guideline value of Balaramapuram, located in Konnur village under the Konnur SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Balaramapuram has changed

The guideline value for Balaramapuram has seen several revisions over the years. Starting from Rs 237 per sq.ft in 2002, it increased to Rs 257 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a notable increase to Rs 2,500 per sq.ft in 2012. However, the value dropped to Rs 1,675 per sq.ft in 2017. From there, it increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision.

In terms of percentage changes, the guideline value increased by 8% from 2002 to 2003, 172% from 2003 to 2007, 257% from 2007 to 2012, and then decreased by 33% from 2012 to 2017. After that, it saw a 49% increase from 2017 to 2023, and a further 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,060%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Balaramapuram's 2024 figure below that median.

• Balaraman Street: Rs 2,750 per sq.ft (2024)
• Balasubramaniam Street: Rs 5,500 per sq.ft (2024)
• Balambigai Nagar: Rs 3,800 per sq.ft (2024)
• Bazaar Street: Rs 7,100 per sq.ft (2024)
• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bajanai Kovil Street (Thanthankuppam): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Balaramapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaramapuram?

The Sub Registrar Office that covers Balaramapuram is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented according to the established values set by the government.

Frequently asked questions

What is the current guideline value of Balaramapuram?

The current guideline value of Balaramapuram is Rs 2,750 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 237 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,060% over the years.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Balaramapuram?

Balaramapuram is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Balaramapuram?

Balaramapuram falls under the Residential Class III Type - I land classification.