Guideline Value for Balamurugan 2nd Street

Balamurugan 2nd Street guideline value

The current guideline value of Balamurugan 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balamurugan 2nd Street has changed

The guideline value for Balamurugan 2nd Street has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft, marking a decrease of 33%. However, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and further rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register does not have figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value saw a notable increase of 49%. Overall, when comparing the 2012 revision to the 2024 revision, there has been a total increase of 10% in the guideline value.

Guideline values in Kaspapuram

Kaspapuram village has 76 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Balamurugan 2nd Street's 2024 figure below the median.

• Balamurugan 1st Street: Rs 550 per sq.ft (2024)
• Balamurugan First Main Road: Rs 550 per sq.ft (2024)
• Balamurugan Second Main Road: Rs 550 per sq.ft (2024)
• Balram Nagar First Main Road: Rs 3,300 per sq.ft (2024)
• Balram Nagar Second Main Road: Rs 1,320 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan 2nd Street?

The Sub Registrar Office that covers Balamurugan 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kaspapuram. It serves as a benchmark for determining 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 value of the property based on current market conditions. It is essential for buyers and sellers to be aware of these values to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Balamurugan 2nd Street?

The current guideline value of Balamurugan 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023 and finally to Rs 550 per sq.ft in 2024.

What is the median guideline value in Kaspapuram?

The median guideline value for the 76 streets in Kaspapuram is Rs 1,100 per sq.ft, which is higher than the current value of Balamurugan 2nd Street.

What are the stamp duty and registration fees for properties in Balamurugan 2nd Street?

For a plot of 1,000 sq.ft, the total guideline value is Rs 5,50,000, leading to a stamp duty of Rs 38,500 and a registration fee of Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office covers Balamurugan 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.