Guideline Value for Ballard Street

Ballard Street guideline value

The current guideline value of Ballard Street, located in Peravallur village, is Rs 2,700 per sq.ft. This value is effective from the 2024 revision, which is managed by the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ballard Street has changed

The guideline value for Ballard Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 360 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, marking a 79% increase. The 2012 revision saw the value remain at Rs 2,500 per sq.ft, a decrease of 33% from the previous revision. In 2017, the guideline value increased to Rs 1,675 per sq.ft, and then it rose to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 650%. There are no figures available for the years not mentioned in the revisions for this street.

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. The median value for these streets is Rs 3,301 per sq.ft, placing Ballard Street's 2024 figure below that median.

• Balvargise Colony: Rs 2,700 per sq.ft (2024)
• Balvargise Street: Rs 2,700 per sq.ft (2024)
• Balasubramaniyan Salai: Rs 2,700 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ballard Street

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, charged at 7%, would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost would be Rs 2,43,000. 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 Ballard Street?

The Sub Registrar Office that covers Ballard Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Peravallur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ballard Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 360 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 650% over the years.

What is the land classification for Ballard Street?

The land classification for Ballard Street is Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Ballard Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Ballard Street located?

The Sub Registrar Office for Ballard Street is located at 5, Papermills Road, Sembiam, Chennai - 600011, under the Sembiam registration zone.