Guideline Value for BALAMURUGAN NAGAR

Balamurugan Nagar guideline value

The current guideline value for Balamurugan Nagar is Rs 248 per sq.ft, effective from 1 July 2024. This area is located in Periyamullavoyal village under the Thiruvottiyur SRO, classified as Residential Special Type - I.

How the guideline value of Balamurugan Nagar has changed

Over the years, the guideline value of Balamurugan Nagar has undergone several revisions. The 2012 revision set the value at Rs 225 per sq.ft, which was then reduced to Rs 151 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 226 per sq.ft, and the latest 2024 revision further raised it to Rs 248 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33% in the guideline value, but from 2017 to 2023, the value increased by 50%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Periyamullavoyal

In Periyamullavoyal, there are seven streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 248 to Rs 350 per sq.ft. Balamurugan Nagar's current guideline value of Rs 248 per sq.ft is equal to the median value of this range.

• As Nagar: Rs 248 per sq.ft (2024)
• Annai Nagar: Rs 248 per sq.ft (2024)
• Agp Nagar: Rs 248 per sq.ft (2024)
• Outer Ring Road: Rs 248 per sq.ft (2024)
• Sri Sankara Arupadai City: Rs 248 per sq.ft (2024)
• Vivekananda Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value would be Rs 2,48,000. The stamp duty at 7% would amount to Rs 17,360, and the registration fee at 2% would be Rs 4,960, bringing the total fees together to Rs 22,320. 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 Nagar?

The Sub Registrar Office that covers Balamurugan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Periyamullavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of this value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then to Rs 226 per sq.ft in 2023, and finally to Rs 248 per sq.ft in 2024.

What is the land classification of Balamurugan Nagar?

Balamurugan Nagar is classified as Residential Special Type - I, which indicates its suitability for residential purposes.

Where is the Sub Registrar Office for Balamurugan Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How do I calculate stamp duty and registration fees for property in Balamurugan Nagar?

To calculate the stamp duty and registration fees, you can use the guideline value. For example, for a 1,000 sq.ft plot at Rs 248 per sq.ft, the total guideline value would be Rs 2,48,000, with stamp duty and registration fees totaling Rs 22,320.