Guideline Value for Balamurugan Koil 2nd Street

Balamurugan Koil 2nd Street guideline value

The current guideline value of Balamurugan Koil 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Balamurugan Koil 2nd Street has changed

The guideline value for Balamurugan Koil 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was then reduced to Rs 2,144 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,520 per sq.ft. There are no figures available for this street in the 2002, 2003, and 2007 revisions.

From the 2012 to 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, placing Balamurugan Koil 2nd Street's 2024 figure below this median.

• Balamurugan Koil 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost together to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Balamurugan Koil 2nd Street?

The Balamurugan Koil 2nd 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 plays a crucial role during the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps both buyers and sellers understand the official valuation of the property. This valuation is essential for legal documentation and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

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

The current guideline value of Balamurugan Koil 2nd 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 2nd Street?

Balamurugan Koil 2nd Street is classified as Residential Special Type - II.

Where can I find the registration office for Balamurugan Koil 2nd Street?

The registration office covering Balamurugan Koil 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Balamurugan Koil 2nd Street?

Stamp duty for properties in Balamurugan Koil 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies.