Guideline Value for BALA MURUGAN NAGAR PART II

Bala Murugan Nagar Part II guideline value

The current guideline value of Bala Murugan Nagar Part II is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Varadharajapuram village under the Poonamallee SRO, classified as Residential Special Type - II.

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

The guideline value for Bala Murugan Nagar Part II has undergone several revisions over the years. The register shows no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 1,100 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no figures available for the specified years. Therefore, the most recent revisions are from 2023 and 2024, reflecting the current guideline value of Rs 1,100 per sq.ft.

Guideline values in Varadharajapuram

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

• Bala Murugan Nagar Part II Extension: Rs 1,800 per sq.ft (2024)
• Bala Murugan Nagar Part-III: Rs 3,825 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bala Murugan Nagar Part II?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Varadharajapuram. It is used to determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, it is essential to refer to the guideline value to understand the financial obligations involved. This value is set by the Registration Department and helps in maintaining transparency in property transactions.

Frequently asked questions

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

The current guideline value of Bala Murugan Nagar Part II is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024, reflecting a change of +10%.

What is the median guideline value in Varadharajapuram?

The median guideline value in Varadharajapuram is Rs 2,530 per sq.ft, with Bala Murugan Nagar Part II's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Bala Murugan Nagar Part II?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, resulting in a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Bala Murugan Nagar Part II located?

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