Guideline Value for Balu Naicken Thottam

Balu Naicken Thottam guideline value

The current guideline value of Balu Naicken Thottam is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Balu Naicken Thottam has changed

The guideline value for Balu Naicken Thottam has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This increased to Rs 1,206 per sq.ft in 2017, marking a decrease of 20%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, reflecting a rise of 6% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO with 2024 guideline values ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Balu Naicken Thottam's 2024 figure below that median.

• Balaji Nagar: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Binny Nagar / Binni Employees Colony: Rs 1,900 per sq.ft (2024)
• Boopathy Salai: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Naicken Thottam

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, these fees would total Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balu Naicken Thottam?

The Sub Registrar Office that covers Balu Naicken Thottam is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that buyers are required to pay when acquiring property.

When selling a property, the guideline value helps establish a fair price for the transaction, ensuring that both parties are aware of the applicable fees. It is essential for buyers and sellers to be informed about the current guideline values to facilitate smooth transactions.

Frequently asked questions

What is the current guideline value of Balu Naicken Thottam?

The current guideline value of Balu Naicken Thottam is Rs 1,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 27% over this period.

What are the stamp duty and registration fees for property in Balu Naicken Thottam?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000, and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office is responsible for Balu Naicken Thottam?

The Madhavaram Sub Registrar Office is responsible for Balu Naicken Thottam, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value for streets in Selavoyal?

The median guideline value for streets in Selavoyal is Rs 2,200 per sq.ft, with Balu Naicken Thottam's value being below this median at Rs 1,900 per sq.ft.