Guideline Value for Balasubramaniam Street (Sunday Observer)

Balasubramaniam Street (Sunday Observer) guideline value

The current guideline value of Balasubramaniam Street (Sunday Observer) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Balasubramaniam Street (Sunday Observer) has changed

The guideline value for Balasubramaniam Street has seen several revisions over the years. In 2012, the guideline value was Rs 4,500 per sq.ft. This figure decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 4,500 per sq.ft in the 2023 revision, and further increased to Rs 4,900 per sq.ft in the 2024 revision, reflecting a change of 9% from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, and when considering the overall change from 2012 to 2024, there has been a 9% increase. The current guideline value of Rs 4,900 per sq.ft is equal to the median value of Rs 4,900 per sq.ft for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO.

Guideline values in Kodambakkam

In Kodambakkam, the guideline values for various streets range from Rs 2,200 to Rs 11,000 per sq.ft, with the median being Rs 4,900 per sq.ft. Balasubramaniam Street (Sunday Observer) is positioned at the median value of Rs 4,900 per sq.ft.

• Balasubramaniam Street (JPT)VOC Block: Rs 4,100 per sq.ft (2024)
• Bank of Baroda Colony: Rs 7,600 per sq.ft (2024)
• Bank of India Colony: Rs 7,000 per sq.ft (2024)
• Balakrishnan Street (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Street (VOC Block): Rs 4,100 per sq.ft (2024)
• Balakrishnan Street (V.M) (JPT): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniam Street (Sunday Observer)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balasubramaniam Street (Sunday Observer)?

The Ashok Nagar Sub Registrar Office covers Balasubramaniam Street (Sunday Observer). The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and avoid any legal issues during the transaction.

When a property is registered, the guideline value helps calculate the total cost involved, including stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, facilitating a smoother process.

Frequently asked questions

What is the current guideline value of Balasubramaniam Street (Sunday Observer)?

The current guideline value of Balasubramaniam Street (Sunday Observer) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024. Overall, the value has increased by 9% from 2012 to 2024.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam have varying guideline values, ranging from Rs 2,200 to Rs 11,000 per sq.ft. For example, Bank of Baroda Colony has a guideline value of Rs 7,600 per sq.ft.

What fees are associated with buying property on Balasubramaniam Street?

When purchasing property on Balasubramaniam Street, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Balasubramaniam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.