Guideline Value for Balram Nagar Second Main Road

Balram Nagar Second Main Road guideline value

The current guideline value of Balram Nagar Second Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - III.

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

The guideline value for Balram Nagar Second Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 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 guideline value for these streets is Rs 1,100 per sq.ft, placing Balram Nagar Second Main Road's 2024 figure above this median.

• Balram Nagar First Main Road: Rs 3,300 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 Second Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balram Nagar Second Main Road?

The Sub Registrar Office that covers Balram Nagar Second Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kaspapuram. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must ensure that they are aware of the current guideline values to avoid any discrepancies during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of Balram Nagar Second Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Balram Nagar Second Main Road?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations in Kaspapuram?

The Tambaram Joint 1 Sub Registrar Office handles property registrations in Kaspapuram, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Balram Nagar Second Main Road?

The land classification for Balram Nagar Second Main Road is Residential Special Type - III.