Guideline Value for Balasubramainum Street / Gandhi Nagar

Balasubramainum Street / Gandhi Nagar guideline value

The current guideline value of Balasubramainum Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Balasubramainum Street / Gandhi Nagar has changed

Over the years, the guideline value for Balasubramainum Street / Gandhi Nagar has seen significant changes. Starting from Rs 188 per sq.ft in 2002, it rose to Rs 213 per sq.ft in 2003, marking a 13% increase. The value then increased to Rs 360 per sq.ft in 2007, a rise of 69%. By 2017, the guideline value reached Rs 1,507 per sq.ft, reflecting a substantial increase of 319%. The next revision in 2023 set the value at Rs 2,250 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 2,475 per sq.ft, which is a 10% increase from 2023.

The register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1216%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Balasubramainum Street / Gandhi Nagar above this median.

• Balasubramani Street, Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Balaraman Street/ Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Balakrishnan Street: Rs 1,760 per sq.ft (2024)
• Balaji Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Balaji Street Extn., /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Baskaran Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramainum Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to Rs 2,22,750. It is important to note that the 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 information.

Which Sub Registrar Office covers Balasubramainum Street / Gandhi Nagar?

The Sub Registrar Office that covers Balasubramainum Street / Gandhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the sale price alone.

When buying or selling property, it is essential to understand that the guideline value is used to determine the official value of the property for registration purposes. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balasubramainum Street / Gandhi Nagar?

The current guideline value of Balasubramainum Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 188 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 1216% over this period.

What is the stamp duty for property in Balasubramainum Street / Gandhi Nagar?

The stamp duty for property transactions in Balasubramainum Street / Gandhi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Balasubramainum Street / Gandhi Nagar?

The Pammal Sub Registrar Office handles registrations for Balasubramainum Street / Gandhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Balasubramainum Street / Gandhi Nagar?

Balasubramainum Street / Gandhi Nagar is classified as Residential Class I Type - II according to the guideline value register.