Guideline Value for BALA MURUGAN NAGAR ANNEX

Bala Murugan Nagar Annex guideline value

The current guideline value of Bala Murugan Nagar Annex is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village under the Redhills SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Bala Murugan Nagar Annex has changed

The guideline value for Bala Murugan Nagar Annex has seen several revisions over the years. In 2012, the guideline value was Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in 2017. Following this, the value increased significantly to Rs 200 per sq.ft in 2023, and then rose to the current value of Rs 220 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 275 per sq.ft. Bala Murugan Nagar Annex's 2024 figure is below this median.

• Bethel: Rs 900 per sq.ft (2024)
• Brindavan Garden Annex: Rs 275 per sq.ft (2024)
• Brindavan Gardens: Rs 385 per sq.ft (2024)
• Ashok Metrovaram Phase-II: Rs 770 per sq.ft (2024)
• Golden Garden: Rs 385 per sq.ft (2024)
• Golden Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Murugan Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, totaling Rs 19,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bala Murugan Nagar Annex?

The Sub Registrar Office that covers Bala Murugan Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Perungavur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation or overvaluation. This process is essential for maintaining transparency and integrity in real estate transactions.

Frequently asked questions

What is the current guideline value of Bala Murugan Nagar Annex?

The current guideline value of Bala Murugan Nagar Annex is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 200 per sq.ft in 2023, and currently stands at Rs 220 per sq.ft in 2024.

What is the land classification of Bala Murugan Nagar Annex?

Bala Murugan Nagar Annex falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for Bala Murugan Nagar Annex?

The Sub Registrar Office for Bala Murugan Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Bala Murugan Nagar Annex?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at 7%.