Guideline Value for Balas Garden

Balas Garden guideline value

The current guideline value of Balas Garden, located in Molachoor village, is Rs 600 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Balas Garden has changed

The guideline value for Balas Garden has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. In 2017, the value dropped to Rs 402 per sq.ft, marking a decrease of 33%. However, by 2023, the value increased to Rs 600 per sq.ft again, and it remained unchanged in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 shows no net change, as the value remains at Rs 600 per sq.ft, consistent with the 2012 and 2024 revisions.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value is Rs 600 per sq.ft, which aligns with the current value of Balas Garden.

• Banu Nagar Phase-II: Rs 460 per sq.ft (2024)
• B.B Innaiyya Naidu Street: Rs 500 per sq.ft (2024)
• Benjamin Naidu Street: Rs 800 per sq.ft (2024)
• Bhanu Nagar: Rs 460 per sq.ft (2024)
• Bharathidhasan Street: Rs 600 per sq.ft (2024)
• Bharathiyar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Balas Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total charges to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balas Garden?

The Sub Registrar Office that covers Balas Garden is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Molachoor, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications.

When registering a property, the guideline value serves as a benchmark for calculating the applicable taxes. It is crucial for both parties to be aware of this value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Balas Garden?

The current guideline value of Balas Garden is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft in 2012, 2023, and 2024, while it decreased to Rs 402 per sq.ft in 2017. The value increased by 49% from 2017 to 2023.

What is the land classification for Balas Garden?

Balas Garden is classified as Residential Special Type - III, according to the local land classification regulations.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 600 per sq.ft, the total fees would amount to Rs 54,000.

Which Sub Registrar Office covers Balas Garden?

The Sunguvarchattram Sub Registrar Office covers Balas Garden, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.