Guideline Value for Balamurugan Koil 1st Street

Balamurugan Koil 1st Street guideline value

The current guideline value of Balamurugan Koil 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Balamurugan Koil 1st Street has changed

Looking at the historical revisions, the guideline value for Balamurugan Koil 1st Street has seen several changes. In 2012, the guideline value was Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,200 per sq.ft in 2023, and most recently to Rs 3,520 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Balamurugan Koil 1st Street at Rs 3,520 per sq.ft is below this median.

• Balamurugan Koil 2nd Street: Rs 3,520 per sq.ft (2024)
• Balamurugan Koil 3rd Street: Rs 3,520 per sq.ft (2024)
• Balamurugan Koil 4th Street: Rs 3,520 per sq.ft (2024)
• BalaMurugan Nagar: Rs 3,960 per sq.ft (2024)
• Balamurugan Nagar Arumugam Street: Rs 3,960 per sq.ft (2024)
• Balamurugan Nagar Raji Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balamurugan Koil 1st Street?

The Balamurugan Koil 1st Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balamurugan Koil 1st Street?

The current guideline value of Balamurugan Koil 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Balamurugan Koil 1st Street?

Balamurugan Koil 1st Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft property, the total fees would be Rs 3,16,800.

Which office handles property registrations for Balamurugan Koil 1st Street?

The Kunrathur Sub Registrar Office handles property registrations for Balamurugan Koil 1st Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.