Guideline Value for BALAMURUGAN GARDEN 3rd CROSS STREET

BALAMURUGAN GARDEN 3rd CROSS STREET guideline value

The current guideline value of BALAMURUGAN GARDEN 3rd CROSS STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO and is classified as Residential Special Type - III.

How the guideline value of BALAMURUGAN GARDEN 3rd CROSS STREET has changed

The guideline value for BALAMURUGAN GARDEN 3rd CROSS STREET has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then reduced to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The changes between the revisions are as follows: from 2017 to 2023, there was a notable increase of 49%, while the shift from 2012 to 2017 saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of BALAMURUGAN GARDEN 3rd CROSS STREET is above this median.

• BALAMURUGAN GARDEN 2nd MAIN ROAD: Rs 6,100 per sq.ft (2024)
• BALAMURUGAN GARDEN 3rd MAIN ROAD: Rs 6,100 per sq.ft (2024)
• BALAMURUGAN GARDEN 2nd CROSS STREET: Rs 5,500 per sq.ft (2024)
• BALAMURUGAN GARDEN 4th CROSS STREET: Rs 5,500 per sq.ft (2024)
• BALAMURUGAN GARDEN 1st MAIN ROAD: Rs 6,600 per sq.ft (2024)
• BALAMURUGAN GARDEN 5th CROSS STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in BALAMURUGAN GARDEN 3rd CROSS STREET

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers BALAMURUGAN GARDEN 3rd CROSS STREET?

The Sub Registrar Office that covers BALAMURUGAN GARDEN 3rd 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 online for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from stamp duty and registration fees. Buyers and sellers must be aware of these values to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of BALAMURUGAN GARDEN 3rd CROSS STREET?

The current guideline value of BALAMURUGAN GARDEN 3rd 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 of BALAMURUGAN GARDEN 3rd CROSS STREET?

BALAMURUGAN GARDEN 3rd CROSS STREET is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees can amount to Rs 4,95,000.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers BALAMURUGAN GARDEN 3rd CROSS STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.