Guideline Value for Balusamy Naidu Street

Balusamy Naidu Street guideline value

The current guideline value of Balusamy Naidu Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Balusamy Naidu Street has changed

The guideline value for Balusamy Naidu Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Balusamy Naidu Street's 2024 figure above this median.

• Bharathiyar 1st Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balusamy Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Balusamy Naidu Street?

The Sub Registrar Office that covers Balusamy Naidu Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Palavanthangal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should keep in mind that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Balusamy Naidu Street?

The current guideline value of Balusamy Naidu Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What is the land classification for Balusamy Naidu Street?

Balusamy Naidu Street is classified as Residential Class I Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Balusamy Naidu Street?

The Sub Registrar Office covering Balusamy Naidu Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the stamp duty rate for property transactions in Balusamy Naidu Street?

The stamp duty rate for property transactions in Balusamy Naidu Street is 7% of the guideline value or the sale price, whichever is higher.