Guideline Value for Balasubramaniyan Salai

Balasubramaniyan Salai guideline value

The current guideline value of Balasubramaniyan Salai is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Balasubramaniyan Salai has changed

The guideline value of Balasubramaniyan Salai has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 170%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Balasubramaniyan Salai is below this median.

• Balaram Reddy Street: Rs 2,700 per sq.ft (2024)
• Balaram Reddy Colony: Rs 2,700 per sq.ft (2024)
• Balaraman Street: Rs 2,700 per sq.ft (2024)
• Ballard Street: Rs 2,700 per sq.ft (2024)
• Balvargise Colony: Rs 2,700 per sq.ft (2024)
• Balvargise Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balasubramaniyan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Balasubramaniyan Salai?

The Sub Registrar Office that covers Balasubramaniyan Salai is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure that they are paying a fair price and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balasubramaniyan Salai?

The current guideline value of Balasubramaniyan Salai is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 170% over the years.

What is the land classification of Balasubramaniyan Salai?

Balasubramaniyan Salai is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total costs would amount to Rs 2,43,000.

Which office do I need to visit for property registration in Balasubramaniyan Salai?

The Sembiam Sub Registrar Office covers Balasubramaniyan Salai, located at 5, Papermills Road, Sembiam, Chennai - 600011.