Guideline Value for Balasubramaniya Nagar

Balasubramaniya Nagar guideline value

The current guideline value of Balasubramaniya Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Balasubramaniya Nagar has changed

The guideline value for Balasubramaniya Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 159 per sq.ft. This increased to Rs 223 per sq.ft in 2003, marking a change of +40%. The guideline value saw a significant rise to Rs 300 per sq.ft in 2007, which was a +35% increase. From 2007 to 2012, the value jumped to Rs 1,800 per sq.ft, a remarkable increase of +500%. However, it then decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of -33%. The value rose again to Rs 1,800 per sq.ft in 2023, and finally, it reached Rs 1,960 per sq.ft in 2024, showing a change of +9% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1133%. The register has no figure for this street for the years not mentioned above.

Guideline values in Nanmangalam

In Nanmangalam, there are 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Balasubramaniya Nagar's 2024 figure below that median.

• Balaraman Street: Rs 1,960 per sq.ft (2024)
• Balaraman 1 To 2 Streets: Rs 1,960 per sq.ft (2024)
• Balakrishnan Street: Rs 1,980 per sq.ft (2024)
• Bharath Avenue: Rs 1,960 per sq.ft (2024)
• Bharathi Street: Rs 1,960 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty, charged at 7%, would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200. Together, these fees would total Rs 1,76,400. It is important to note that 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 Balasubramaniya Nagar?

The Sub Registrar Office that covers Balasubramaniya Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buyers and sellers engage in a transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. If the sale price of the property is higher than the guideline value, the duty will be charged based on the sale price instead.

Frequently asked questions

What is the current guideline value of Balasubramaniya Nagar?

The current guideline value of Balasubramaniya Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 159 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, marking an overall increase of +1133%.

What is the median guideline value in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, with Balasubramaniya Nagar's value being below this median.

What are the stamp duty and registration fees for properties in Balasubramaniya Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,60,000, with stamp duty at Rs 1,37,200 and registration fee at Rs 39,200, totaling Rs 1,76,400.

Which office handles property registrations for Balasubramaniya Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Balasubramaniya Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.