Guideline Value for Balram Nagar First Main Road

Balram Nagar First Main Road guideline value

The current guideline value of Balram Nagar First Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Kaspapuram village under the Tambaram Joint 1 SRO, classified as Commercial Class I Type - II.

How the guideline value of Balram Nagar First Main Road has changed

The guideline value for Balram Nagar First Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged in the 2017 revision when it dropped to Rs 2,010 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 3,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Balram Nagar First Main Road's 2024 figure above that median.

• Balram Nagar Second Main Road: Rs 1,320 per sq.ft (2024)
• Balamurugan Second Main Road: Rs 550 per sq.ft (2024)
• Balamurugan First Main Road: Rs 550 per sq.ft (2024)
• Balamurugan 2nd Street: Rs 550 per sq.ft (2024)
• Balamurugan 1st Street: Rs 550 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Balram Nagar First Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Balram Nagar First Main Road?

The Sub Registrar Office covering Balram Nagar First Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kaspapuram. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering property, the guideline value is used to calculate the applicable taxes, ensuring that both parties are aware of the financial obligations involved in the transaction. It is essential to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balram Nagar First Main Road?

The current guideline value of Balram Nagar First Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value also saw a significant rise from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

What is the land classification for Balram Nagar First Main Road?

Balram Nagar First Main Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty rates applicable for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balram Nagar First Main Road?

The Sub Registrar Office for Balram Nagar First Main Road is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.