Guideline Value for Ballat Madhavan Road

Ballat Madhavan Road guideline value

The current guideline value of Ballat Madhavan Road is Rs 9,300 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Ballat Madhavan Road has changed

Since the 2007 revision, the guideline value for Ballat Madhavan Road has seen significant changes. In 2007, the value was Rs 3,000 per sq.ft, which increased to Rs 8,500 per sq.ft in the 2012 revision, marking a rise of 183%. However, in 2017, the value dropped to Rs 5,695 per sq.ft, a decrease of 33%. The next revision in 2023 saw the value rise again to Rs 8,500 per sq.ft, followed by a further increase to Rs 9,300 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 210%. The register does not contain figures for the years 2002 and 2003 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 value for these streets is Rs 8,800 per sq.ft, making the guideline value for Ballat Madhavan Road higher than the median.

• Ballat Madhavan 1st Cross Street: 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 Road

For a 1,000 sq.ft plot at the current guideline value, the calculation is as follows: the guideline value is Rs 93,00,000. The stamp duty at 7% amounts to Rs 6,51,000, and the registration fee at 2% is Rs 1,86,000, totaling Rs 8,37,000. It is important to note that 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 Road?

The Sub Registrar Office that covers Ballat Madhavan Road 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 plays a crucial role during the registration of property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in estimating the total cost involved in property transactions. It is advisable to check the latest guideline value before proceeding with any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ballat Madhavan Road?

The current guideline value of Ballat Madhavan Road 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 changed significantly from Rs 3,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, reflecting a total increase of 210% over the years.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 8,37,000.

Which office handles registrations for Ballat Madhavan Road?

The Chennai Central Joint II Sub Registrar Office handles registrations for Ballat Madhavan Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Ballat Madhavan Road?

The land classification for Ballat Madhavan Road is Commercial Class I Type - III, indicating its suitability for commercial activities.