Guideline Value for Balamurugan Koil 3rd Street

Balamurugan Koil 3rd Street guideline value

The current guideline value of Balamurugan Koil 3rd 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 3rd Street has changed

Since the 2012 revision, the guideline value for Balamurugan Koil 3rd Street has seen several changes. The 2012 revision set the value at Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase. The register does not provide 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 with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Balamurugan Koil 3rd Street's guideline value below this median.

• Balamurugan Koil 2nd Street: Rs 3,520 per sq.ft (2024)
• Balamurugan Koil 4th Street: Rs 3,520 per sq.ft (2024)
• Balamurugan Koil 1st 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 3rd 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, and the registration fee at 2% would be Rs 70,400, bringing the total 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balamurugan Koil 3rd Street?

The Balamurugan Koil 3rd Street falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process 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 appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balamurugan Koil 3rd Street?

The current guideline value of Balamurugan Koil 3rd 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 to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations for Balamurugan Koil 3rd Street?

The Kunrathur Sub Registrar Office handles property registrations for Balamurugan Koil 3rd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Balamurugan Koil 3rd Street?

Balamurugan Koil 3rd Street is classified as Residential Special Type - II, indicating its suitability for residential development.