Guideline Value for Balvargise Street

Balvargise Street guideline value

The current guideline value of Balvargise Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Balvargise Street has changed

Over the years, the guideline value of Balvargise Street has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 700 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,700 per sq.ft in 2024, reflecting an 8% rise.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 286%. It is important to note that there are no recorded figures for Balvargise Street in the 2002 and 2003 revisions.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Balvargise Street's 2024 figure below this median.

• Balvargise Colony: Rs 2,700 per sq.ft (2024)
• Ballard Street: Rs 2,700 per sq.ft (2024)
• Balasubramaniyan Salai: Rs 2,700 per sq.ft (2024)
• Balaram Reddy Street: Rs 2,700 per sq.ft (2024)
• Balaram Reddy Colony: Rs 2,700 per sq.ft (2024)
• Balaraman Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balvargise Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is 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 Balvargise Street?

The Sub Registrar Office that covers Balvargise Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the fees are calculated based on a standardized value, which helps in maintaining transparency in property transactions. Buyers and sellers should always refer to the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Balvargise Street?

The current guideline value of Balvargise Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 286% over the years.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, with Balvargise Street's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Balvargise Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,43,000.

Which office handles property registrations for Balvargise Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Balvargise Street.