Guideline Value for Ballat Madhavan 1st Cross Street

Ballat Madhavan 1st Cross Street guideline value

The current guideline value of Ballat Madhavan 1st Cross Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village under the Chennai Central Joint II SRO, classified as Commercial Class I Type - III.

How the guideline value of Ballat Madhavan 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 8,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 5,695 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 8,500 per sq.ft in the 2023 revision, before rising again to Rs 9,300 per sq.ft in 2024, reflecting a 9% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, placing Ballat Madhavan 1st Cross Street's 2024 figure above this median.

• Ballat Madhavan Road: Rs 9,300 per sq.ft (2024)
• Ballat Narayani Amma Street: Rs 9,300 per sq.ft (2024)
• Ballat Sankaran Street: Rs 9,300 per sq.ft (2024)
• Balamuthu Krishnan Colony: Rs 9,300 per sq.ft (2024)
• Begum Sahib 1st Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 2nd Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ballat Madhavan 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 9,300 per sq.ft, the guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, totaling Rs 8,37,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ballat Madhavan 1st Cross Street?

The Sub Registrar Office covering Ballat Madhavan 1st Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ballat Madhavan 1st Cross Street?

The current guideline value of Ballat Madhavan 1st Cross Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 8,500 per sq.ft in 2012, decreased to Rs 5,695 per sq.ft in 2017, increased to Rs 8,500 per sq.ft in 2023, and finally rose to Rs 9,300 per sq.ft in 2024.

What is the land classification of Ballat Madhavan 1st Cross Street?

Ballat Madhavan 1st Cross Street is classified as Commercial Class I Type - III under the Chennai Central Joint II SRO.

What are the other streets in Nungambakkam with the same guideline value?

Other streets in Nungambakkam with the same guideline value of Rs 9,300 per sq.ft include Ballat Madhavan Road, Ballat Narayani Amma Street, Ballat Sankaran Street, and Balamuthu Krishnan Colony.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ballat Madhavan 1st Cross Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.