Guideline Value for BALAMURUGAN NAGAR

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Balamurugan Nagar has changed

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This increased to Rs 200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with the median being Rs 220 per sq.ft. Balamurugan Nagar's 2024 figure is equal to this median.

• Barathiyamman Nagar: Rs 220 per sq.ft (2024)
• Bharathi Nagar: Rs 220 per sq.ft (2024)
• Bagavathiyamman Nagar: Rs 220 per sq.ft (2024)
• Bijiva Nagar: Rs 220 per sq.ft (2024)
• B. Jeeva Nagar: Rs 220 per sq.ft (2024)
• Arun Nagar Sector B: Rs 220 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 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our 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 Vallur

The guideline value is a crucial factor during the registration of property transactions in Vallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable taxes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 220 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification of Balamurugan Nagar?

Balamurugan Nagar is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty rates for property in Balamurugan Nagar?

The stamp duty rate for property transactions in Balamurugan Nagar is 7%. This is calculated based on the higher of the guideline value or the sale price of the property.

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

The Sub Registrar Office for Balamurugan Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles the registration of property transactions in the area.