Guideline Value for BALAMURUGAN CROSS STREET

Balamurugan Cross Street guideline value

The current guideline value of Balamurugan Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Balamurugan Cross Street has changed

The guideline value for Balamurugan Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Balamurugan Cross Street.

• Balamurugan Street: Rs 3,300 per sq.ft (2024)
• Bangaru Nagar: Rs 2,750 per sq.ft (2024)
• Basiyam Street: Rs 3,520 per sq.ft (2024)
• Balaji Nagar: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Main Road (Part): Rs 3,520 per sq.ft (2024)
• Bharathi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan Cross Street?

The Sub Registrar Office that covers Balamurugan Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered and is used to calculate applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Balamurugan Cross Street?

The current guideline value of Balamurugan Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Balamurugan Cross Street?

Balamurugan Cross Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Balamurugan Cross Street?

The Sub Registrar Office for Balamurugan Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Balamurugan Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.