Guideline Value for Balasubramani Street, Meenakshi Nagar

Balasubramani Street, Meenakshi Nagar guideline value

The current guideline value of Balasubramani Street, Meenakshi Nagar is Rs 1,980 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 II Type - II.

How the guideline value of Balasubramani Street, Meenakshi Nagar has changed

The guideline value of Balasubramani Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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, with a median value of Rs 2,090 per sq.ft. Balasubramani Street's current guideline value is below this median.

• Balasubramainum Street / Gandhi Nagar: Rs 2,475 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 Balasubramani Street, Meenakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Balasubramani Street, Meenakshi Nagar?

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

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

The guideline value plays a crucial role in property transactions in Pammal. It is used as a reference point for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balasubramani Street, Meenakshi Nagar?

The current guideline value of Balasubramani Street, Meenakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification for Balasubramani Street?

Balasubramani Street is classified as Residential Class II Type - II according to the local land classification guidelines.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,78,200.

Where can I find the Sub Registrar Office for Balasubramani Street?

The Pammal Sub Registrar Office covers Balasubramani Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.