Guideline Value for Balasubramania Nagar

Balasubramania Nagar guideline value

The current guideline value of Balasubramania Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Kattupakkam village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Balasubramania Nagar has changed

The guideline value for Balasubramania Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 1,900 per sq.ft in 2012, marking a rise of 322%. However, from 2012 to 2017, the value decreased to Rs 1,273 per sq.ft, reflecting a drop of 33%. The 2017 revision saw a substantial increase to Rs 1,900 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,090 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 364%.

Guideline values in Kattupakkam

Kattupakkam village has a range of guideline values across its 75 streets under the Kunrathur SRO, with the 2024 figures varying from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, which is equal to the current figure for Balasubramania Nagar.

• Balu Indira Nagar: Rs 2,360 per sq.ft (2024)
• Bazaar Street: Rs 2,090 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,090 per sq.ft (2024)
• Bhaskar Avenue: Rs 2,090 per sq.ft (2024)
• Audco Nagar: Rs 3,520 per sq.ft (2024)
• Chandra Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramania Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Together, the total cost for stamp duty and registration fee would be Rs 1,88,100. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balasubramania Nagar?

The Sub Registrar Office that covers Balasubramania Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to assess the fair value of the property. It is essential for both parties to understand that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balasubramania Nagar?

The current guideline value of Balasubramania Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 364% over the years.

What is the stamp duty rate in Balasubramania Nagar?

The stamp duty rate for property transactions in Balasubramania Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing the fair value of the property being bought or sold.