Guideline Value

Corporate

Guideline Value for BALAMURUGAN GARDEN 1st CROSS STREET

₹5500/sq.ft.

The guideline value for Balamurugan Garden 1st Cross Street in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balamurugan Garden 1st Cross Street

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BALAMURUGAN GARDEN 1st CROSS STREET guideline value

The current guideline value of BALAMURUGAN GARDEN 1st CROSS STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of BALAMURUGAN GARDEN 1st CROSS STREET has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This figure was revised to Rs 3,350 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been an increase of 10% in the guideline value. The consistent revisions indicate the evolving nature of property values in this locality.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 3,300 per sq.ft, placing BALAMURUGAN GARDEN 1st CROSS STREET above this median.

Stamp duty and registration fee for property in BALAMURUGAN GARDEN 1st CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BALAMURUGAN GARDEN 1st CROSS STREET?

The Sub Registrar Office that covers BALAMURUGAN GARDEN 1st CROSS STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Okkiyamthuraipakkam. It is used as a basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the correct amount of revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of BALAMURUGAN GARDEN 1st CROSS STREET?

The current guideline value of BALAMURUGAN GARDEN 1st CROSS STREET is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, marking a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification for BALAMURUGAN GARDEN 1st CROSS STREET?

The land classification for BALAMURUGAN GARDEN 1st CROSS STREET is Residential Special Type - III.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee Rs 1,10,000.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers BALAMURUGAN GARDEN 1st CROSS STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.