Guideline Value for Balasubramaniam Street

Balasubramaniam Street guideline value

The current guideline value of Balasubramaniam Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balasubramaniam Street has changed

The guideline value for Balasubramaniam Street has seen significant changes over the years. In the 2002 revision, the value was Rs 320 per sq.ft. This increased to Rs 347 per sq.ft in 2003, marking an 8% rise. The value then jumped to Rs 700 per sq.ft in 2007, which was a substantial increase of 102%. By 2012, the guideline value reached Rs 5,000 per sq.ft, reflecting a remarkable growth of 614% from the previous revision. However, in 2017, it decreased to Rs 3,350 per sq.ft, showing a decline of 33%.

In the subsequent revisions, the value increased again, with the 2023 revision setting it at Rs 5,000 per sq.ft, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1619%.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Balasubramaniam Street's 2024 guideline value is above this median.

• Balaramapuram: Rs 2,750 per sq.ft (2024)
• Balaraman Street: Rs 2,750 per sq.ft (2024)
• Balambigai Nagar: Rs 3,800 per sq.ft (2024)
• Bazaar Street: Rs 7,100 per sq.ft (2024)
• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bajanai Kovil Street (Thanthankuppam): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniam Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, bringing the total to Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Balasubramaniam Street?

The Sub Registrar Office that covers Balasubramaniam Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with registration laws. The guideline value is essential for both parties to understand the financial implications of the transaction, including the fees that will be incurred during the registration process.

Frequently asked questions

What is the current guideline value of Balasubramaniam Street?

The current guideline value of Balasubramaniam Street 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 significantly from Rs 320 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1619% over this period.

What is the land classification for Balasubramaniam Street?

Balasubramaniam Street is classified as Residential Class I Type - I.

What is the registration office for Balasubramaniam Street?

The registration office for Balasubramaniam Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot with a guideline value of Rs 55,00,000, the stamp duty would be Rs 3,85,000.