Guideline Value for Balasubaraya Chetty Lane

Balasubaraya Chetty Lane guideline value

The current guideline value of Balasubaraya Chetty Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - II.

How the guideline value of Balasubaraya Chetty Lane has changed

The guideline value for Balasubaraya Chetty Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,700 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 194% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 5,000 per sq.ft in 2023, and then further rose to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for Balasubaraya Chetty Lane in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 224%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Balasubaraya Chetty Lane's 2024 figure above this median.

• Balasubaraya Chetty Street: Rs 5,500 per sq.ft (2024)
• Bangarammal Street: Rs 4,400 per sq.ft (2024)
• Bala Krishnan Street: Rs 6,000 per sq.ft (2024)
• Barlin Basin Street (Elephant Gate Street): Rs 6,000 per sq.ft (2024)
• Barracks 1st Lane: Rs 4,900 per sq.ft (2024)
• Barracks 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubaraya Chetty Lane

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Please 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 Balasubaraya Chetty Lane?

The Sub Registrar Office that covers Balasubaraya Chetty Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balasubaraya Chetty Lane?

The current guideline value of Balasubaraya Chetty Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 224% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Balasubaraya Chetty Lane's 2024 figure being above this median.

What are the stamp duty rates applicable in Balasubaraya Chetty Lane?

The stamp duty rate applicable is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Balasubaraya Chetty Lane?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.