Guideline Value for BALA MURUGAN NAGAR PART-III

Bala Murugan Nagar Part-III guideline value

The current guideline value of Bala Murugan Nagar Part-III is Rs 3,825 per sq.ft, effective from 1 July 2024. This area is located in Varadharajapuram village, under the jurisdiction of the Poonamallee Sub Registrar Office. The land classification for this street is Residential Special Type - IV.

How the guideline value of Bala Murugan Nagar Part-III has changed

The guideline value register for Bala Murugan Nagar Part-III shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 3,825 per sq.ft. This is the first recorded figure for this street in the current register.

As there are no previous figures available for this street, it is important to note that the guideline value has been established only in the 2024 revision. Therefore, there are no changes to report between revisions, as the 2024 value is the first entry for Bala Murugan Nagar Part-III.

Guideline values in Varadharajapuram

In Varadharajapuram, there are six streets that have been assigned a guideline value for the year 2024, ranging from Rs 1,100 to Rs 3,825 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, positioning Bala Murugan Nagar Part-III above this median value.

• Bala Murugan Nagar Part II Extension: Rs 1,800 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-III

For a 1,000 sq.ft plot at the current guideline value of Rs 3,825 per sq.ft, the total guideline value amounts to Rs 38,25,000. The stamp duty, calculated at 7%, would be Rs 2,67,750, while the registration fee at 2% would be Rs 76,500. Together, the total cost for stamp duty and registration would be Rs 3,44,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bala Murugan Nagar Part-III?

The Bala Murugan Nagar Part-III area falls under 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 property transactions in Varadharajapuram. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives due revenue from property sales. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When purchasing property, the guideline value is essential for calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, making it imperative for buyers to understand the implications of the guideline value in their transactions.

Frequently asked questions

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

The current guideline value of Bala Murugan Nagar Part-III is Rs 3,825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no recorded figures for Bala Murugan Nagar Part-III in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only figure available is from the 2024 revision.

What is the land classification for Bala Murugan Nagar Part-III?

The land classification for Bala Murugan Nagar Part-III is Residential Special Type - IV, indicating its designated use for residential purposes.

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

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

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Bala Murugan Nagar Part-III is calculated at 7% of the guideline value. Additionally, a registration fee of 2% is applied, making it essential for buyers to consider these costs during property transactions.