Guideline Value for Balarkalvi Nilayam Road

Balarkalvi Nilayam Road guideline value

The current guideline value for Balarkalvi Nilayam Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Balarkalvi Nilayam Road has changed

Looking at the revisions, the guideline value for Balarkalvi Nilayam Road has seen significant changes over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased dramatically to Rs 8,000 per sq.ft in 2012, marking a rise of 344%. However, between 2012 and 2017, the value dropped to Rs 5,360 per sq.ft, a decrease of 33%. The value then rose to Rs 8,000 per sq.ft in 2023, and most recently, it has increased to Rs 8,800 per sq.ft in the 2024 revision, reflecting a 10% increase.

In total, from the 2007 revision to the current 2024 figure, the guideline value has increased by 389%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Balarkalvi Nilayam Road is above this median.

• Barracks lane: Rs 2,700 per sq.ft (2024)
• Barracks Road: Rs 3,300 per sq.ft (2024)
• Basin Bridge Road: Rs 7,700 per sq.ft (2024)
• Basin Elephant Gate road: Rs 6,000 per sq.ft (2024)
• Bazaar Lane(Part): Rs 7,000 per sq.ft (2024)
• Beautiful Park Salai: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Balarkalvi Nilayam Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total Rs 7,92,000. It is important to note that 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 Balarkalvi Nilayam Road?

The Sub Registrar Office that covers Balarkalvi Nilayam Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When you buy or sell property, the guideline value helps determine the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balarkalvi Nilayam Road?

The current guideline value of Balarkalvi Nilayam Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 389%, from Rs 1,800 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024.

What is the land classification for Balarkalvi Nilayam Road?

Balarkalvi Nilayam Road is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the registration office for Balarkalvi Nilayam Road?

The registration office for Balarkalvi Nilayam Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Vepery?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at a rate of 7%, along with a registration fee of 2%.