Guideline Value for S.P. BALASUBRAMANIAN STREET

S.P. Balasubramanian Street guideline value

The current guideline value of S.P. Balasubramanian Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of S.P. Balasubramanian Street has changed

The guideline value for S.P. Balasubramanian Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision further raised it to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing S.P. Balasubramanian Street's 2024 value below this median.

• Spring Field Avenue 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Spring Field Avenue 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Spring Field Avenue 7th Street: Rs 1,320 per sq.ft (2024)
• Spring Field Avenue 8th Street: Rs 1,320 per sq.ft (2024)
• Spring Field Avenue 9th Street: Rs 1,320 per sq.ft (2024)
• Spris Field Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in S.P. Balasubramanian Street

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 be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges 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 detailed calculations.

Which Sub Registrar Office covers S.P. Balasubramanian Street?

S.P. Balasubramanian Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vanagaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of S.P. Balasubramanian Street?

The current guideline value of S.P. Balasubramanian Street 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 is the land classification for S.P. Balasubramanian Street?

S.P. Balasubramanian Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering S.P. Balasubramanian Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.