Guideline Value for Balasubramaniyam Street

Balasubramaniyam Street guideline value

The current guideline value of Balasubramaniyam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Commercial Class I Type - II.

How the guideline value of Balasubramaniyam Street has changed

Over the years, the guideline value of Balasubramaniyam Street has seen significant changes. The earliest recorded figure is from 2007, when it was Rs 300 per sq.ft. This value increased dramatically to Rs 2,500 per sq.ft by 2012, marking a rise of 733%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,750 per sq.ft in 2024, representing a 10% increase.

In summary, the guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, an overall increase of 817%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Balasubramaniyam Street's 2024 figure above this median.

• Balamurugan Street: Rs 2,160 per sq.ft (2024)
• Balaji Street: Rs 2,160 per sq.ft (2024)
• Bashiyam Vathiyar Street: Rs 2,160 per sq.ft (2024)
• Beriamman Koil Street: Rs 2,750 per sq.ft (2024)
• Beriamman Nagar: Rs 2,420 per sq.ft (2024)
• Bharadhamadha Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniyam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balasubramaniyam Street?

The Sub Registrar Office that covers Balasubramaniyam Street 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 more details.

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

The guideline value plays a crucial role in property transactions in Nemilicherry. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is documented at a value that reflects the prevailing market conditions.

When buying or selling a property, the guideline value is essential for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Balasubramaniyam Street?

The current guideline value of Balasubramaniyam Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, with significant changes in various revisions over the years.

What is the classification of Balasubramaniyam Street?

Balasubramaniyam Street is classified as Commercial Class I Type - II under the Pallavaram SRO.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Balasubramaniyam Street?

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