Guideline Value for BALA MURUGAN NAGAR PART II EXTENSION

Bala Murugan Nagar Part II Extension guideline value

The current guideline value of Bala Murugan Nagar Part II Extension is Rs 1,800 per sq.ft. This area is located in Varadharajapuram village and falls under the Poonamallee SRO. The land classification for this street is Residential Class V Type - III.

How the guideline value of Bala Murugan Nagar Part II Extension has changed

The register has no figure for Bala Murugan Nagar Part II Extension for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision also recorded a guideline value of Rs 1,800 per sq.ft, which remained unchanged in the 2024 revision, effective from 1 July 2024.

From 2023 to 2024, there was no percentage change, maintaining the guideline value at Rs 1,800 per sq.ft for this street.

Guideline values in Varadharajapuram

In Varadharajapuram, there are six streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,825 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that Bala Murugan Nagar Part II Extension's 2024 figure is below that median.

• Bala Murugan Nagar Part-III: Rs 3,825 per sq.ft (2024)
• Bala Murugan Nagar Part II: Rs 1,100 per sq.ft (2024)
• K.V.R Nagar: Rs 2,530 per sq.ft (2024)
• National Highway Road: Rs 2,530 per sq.ft (2024)
• Ocean Sundar Gateway: Rs 3,825 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Murugan Nagar Part II Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. Please 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 information.

Which Sub Registrar Office covers Bala Murugan Nagar Part II Extension?

The Sub Registrar Office that covers Bala Murugan Nagar Part II Extension is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadharajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, impacting the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bala Murugan Nagar Part II Extension?

The current guideline value of Bala Murugan Nagar Part II Extension is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no figures recorded for Bala Murugan Nagar Part II Extension for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 1,800 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value for streets in Varadharajapuram?

The median guideline value for streets in Varadharajapuram is Rs 2,530 per sq.ft, with Bala Murugan Nagar Part II Extension's value being below this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,800 per sq.ft would incur a total of Rs 1,62,000 in fees.

Where can I find the Sub Registrar Office for Bala Murugan Nagar Part II Extension?

The Poonamallee Sub Registrar Office covers Bala Murugan Nagar Part II Extension, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.