Guideline Value for BALAGURU COLONY

Balaguru Colony guideline value

The current guideline value of Balaguru Colony is Rs 7,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village under the Chennai South Joint I SRO, and it is classified as Residential Class IV Type - I.

How the guideline value of Balaguru Colony has changed

The guideline value for Balaguru Colony has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 1,137 per sq.ft. This value increased to Rs 1,258 per sq.ft in 2003, marking a 11% rise. The following revision in 2007 saw a significant jump to Rs 1,300 per sq.ft, which was a 3% increase. In 2012, the value rose dramatically to Rs 6,500 per sq.ft, reflecting a 400% increase. However, this was followed by a decrease to Rs 4,355 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value increased to Rs 6,500 per sq.ft, which was a substantial 49% rise. The most recent revision in 2024 has set the value at Rs 7,150 per sq.ft, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 529%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, positioning Balaguru Colony's 2024 guideline value below this median.

• Balaji Nagar (Avvai Nagar): Rs 7,150 per sq.ft (2024)
• Balakrishna Street: Rs 12,650 per sq.ft (2024)
• Balam Estate: Rs 7,150 per sq.ft (2024)
• Avvai Nagar (Pandian Street): Rs 7,150 per sq.ft (2024)
• Avvai Nagar Main Road: Rs 7,150 per sq.ft (2024)
• Avvai Nagar: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Balaguru Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000. Therefore, the total cost for stamp duty and registration would be Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaguru Colony?

Balaguru Colony falls under 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Balaguru Colony?

The current guideline value of Balaguru Colony is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,137 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, representing an overall increase of 529%.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, which is higher than the current value for Balaguru Colony.

What are the stamp duty rates in Balaguru Colony?

The stamp duty rate for property transactions in Balaguru Colony is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaguru Colony?

The Sub Registrar Office covering Balaguru Colony is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.