Guideline Value for Balamurugan Nagar - Ranganathan Street

Balamurugan Nagar - Ranganathan Street guideline value

The current guideline value of Balamurugan Nagar - Ranganathan Street is Rs 3,960 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 - I.

How the guideline value of Balamurugan Nagar - Ranganathan Street has changed

The guideline value for Balamurugan Nagar - Ranganathan Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was a decrease of 33% from Rs 2,412 per sq.ft in the 2017 revision. The value remained at Rs 3,600 per sq.ft in 2023, before increasing to Rs 3,960 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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, which is the same as the current value for Balamurugan Nagar - Ranganathan Street.

• Balamurugan Nagar Raji Street - 2nd Lane: Rs 3,960 per sq.ft (2024)
• Balamurugan Nagar Raji Street - 1st Lane: Rs 3,960 per sq.ft (2024)
• Balamurugan Nagar Raji Street: Rs 3,960 per sq.ft (2024)
• Balamurugan Nagar Arumugam Street: Rs 3,960 per sq.ft (2024)
• BalaMurugan Nagar: Rs 3,960 per sq.ft (2024)
• Balamurugan Koil 4th Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar - Ranganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your exact fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan Nagar - Ranganathan Street?

The Balamurugan Nagar - Ranganathan 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 critical factor during the registration process when buying or selling property in Porur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring transparency in property transactions.

When a property is sold, the guideline value helps to standardize the pricing, making it easier for buyers and sellers to understand the official valuation of a property. This process helps in reducing disputes related to property valuations during registration.

Frequently asked questions

What is the current guideline value for Balamurugan Nagar - Ranganathan Street?

The current guideline value for Balamurugan Nagar - Ranganathan Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the land classification for this street?

Balamurugan Nagar - Ranganathan Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the registration office for this area?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 39,60,000 would incur a stamp duty of Rs 2,77,200 at a rate of 7%.