Guideline Value for Balu Street

Balu Street guideline value

The current guideline value of Balu Street in Tondaiarpet village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Balu Street has changed

The guideline value for Balu Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 100% rise. However, in 2017, it decreased to Rs 1,340 per sq.ft, a drop of 33%. This value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by another rise to the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Balu Street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Balu Street's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Bashyam Street: Rs 2,200 per sq.ft (2024)
• Basin Bridge Road: Rs 4,900 per sq.ft (2024)
• Balakrishnan 2nd Street: Rs 1,600 per sq.ft (2024)
• Balakrishnan 1st Street: Rs 1,600 per sq.ft (2024)
• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Bishob 2nd Lane: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balu Street?

Balu Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balu Street?

The current guideline value of Balu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value for Balu Street has increased from Rs 1,000 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 120%.

What is the land classification for Balu Street?

Balu Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Balu Street?

The Sub Registrar Office covering Balu Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.