Guideline Value for BALU MUDALI STREET

Balu Mudali Street guideline value

The current guideline value of Balu Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Balu Mudali Street has changed

The guideline value for Balu Mudali Street has seen significant changes over the years. In the 2002 revision, the value was Rs 892 per sq.ft, which increased to Rs 990 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 2,000 per sq.ft in 2007, reflecting a substantial increase of 102%. The 2012 revision recorded a value of Rs 5,000 per sq.ft, which was a 150% increase from the previous revision. However, the value dropped to Rs 3,350 per sq.ft in 2017, showing a decrease of 33%.

In the 2023 revision, the guideline value was Rs 5,000 per sq.ft, which then increased to Rs 5,500 per sq.ft in the 2024 revision, a rise of 10%. Overall, from 2002 to 2024, the guideline value has increased by 517%. The register has no figure for the revisions of years not listed above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Balu Mudali Street's 2024 figure below that median.

• Balamuthukrishna Road: Rs 17,600 per sq.ft (2024)
• Balamandir Road: Rs 5,500 per sq.ft (2024)
• Basudev Street: Rs 13,200 per sq.ft (2024)
• Basullah Road: Rs 17,600 per sq.ft (2024)
• Bhagavantham Gupta Street: Rs 8,300 per sq.ft (2024)
• Balaji Avenue Iind Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Mudali 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balu Mudali Street?

The Sub Registrar Office that covers Balu Mudali Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Tnagar. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value serves as a baseline for calculating these fees, ensuring that all transactions are recorded accurately and transparently. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Balu Mudali Street?

The current guideline value of Balu Mudali 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 892 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 517% over the years.

What are the stamp duty and registration fees for property on Balu Mudali Street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles transactions for Balu Mudali Street?

The Thiyagaraya nagar Sub Registrar Office handles transactions for Balu Mudali Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification of Balu Mudali Street?

Balu Mudali Street is classified as Residential Class III Type - II, which defines the type of development allowed in the area.