Guideline Value for BALAMURUGAN 2ND CROSS STREET

Balamurugan 2nd Cross Street guideline value

The current guideline value for Balamurugan 2nd Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Balamurugan 2nd Cross Street has changed

The guideline value for Balamurugan 2nd Cross Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease in 2017 to Rs 1,005 per sq.ft. However, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to the current value of Rs 1,660 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the value has increased by 11%. There are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, which is equal to the current value of Balamurugan 2nd Cross Street.

• Balamurugan 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Balamurugan Street: Rs 770 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 1,660 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total cost for these fees Rs 1,49,400. It is important to 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 details.

Which Sub Registrar Office covers Balamurugan 2nd Cross Street?

The Balamurugan 2nd Cross Street is covered by 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Balamurugan 2nd Cross Street?

The current guideline value for Balamurugan 2nd Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification for Balamurugan 2nd Cross Street?

Balamurugan 2nd Cross Street is classified as Residential Class III Type - I.

Where can I find the registration office for Balamurugan 2nd Cross Street?

The registration office for Balamurugan 2nd Cross Street is 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.

How is the stamp duty calculated for properties in Vanagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees can be calculated accordingly.