Guideline Value for BALAMURUGAN NAGAR

Balamurugan Nagar guideline value

The current guideline value for Balamurugan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Eagattur village and falls under the Manavalanagar SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Balamurugan Nagar has changed

The guideline value for Balamurugan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it was also Rs 200 per sq.ft. The 2017 revision saw a decrease to Rs 134 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, reflecting no overall change. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was an increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The most recent revision in 2024 maintained the value at Rs 200 per sq.ft, showing a 0% change from the previous year.

Guideline values in Eagattur

In Eagattur, there are 31 streets under the Manavalanagar SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 330 per sq.ft. The median value for these streets is Rs 190 per sq.ft, placing Balamurugan Nagar's 2024 figure above this median.

• Meenakshi Nagar: Rs 200 per sq.ft (2024)
• New Kamaraj Nagar: Rs 200 per sq.ft (2024)
• Nirmal Nagar: Rs 190 per sq.ft (2024)
• Om Sakthi Nagar: Rs 154 per sq.ft (2024)
• Palani Nagar: Rs 190 per sq.ft (2024)
• Palayam Nagar: Rs 154 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Nagar?

The Sub Registrar Office that covers Balamurugan Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Eagattur. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the local market conditions.

When buying or selling property, the guideline value helps determine the legal and financial obligations of both parties. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with a decrease to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification for Balamurugan Nagar?

Balamurugan Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Balamurugan Nagar?

The Sub Registrar Office for Balamurugan Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for property in Balamurugan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7%.