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Guideline Value

Corporate

Guideline Value for Balamurugan Nagar 1st Street(Chithirai to Panguni Streets)

₹2750/sq.ft.

The guideline value for Balamurugan Nagar 1st Street(chithirai To Panguni Streets) in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balamurugan Nagar 1st Street(chithirai To Panguni Streets)

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Balamurugan Nagar 1st Street(Chithirai to Panguni Streets) guideline value

The current guideline value for Balamurugan Nagar 1st Street(Chithirai to Panguni Streets) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balamurugan Nagar 1st Street(Chithirai to Panguni Streets) has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to Rs 2,750 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Balamurugan Nagar 1st Street's 2024 figure is below this median.

Stamp duty and registration fee for property in Balamurugan Nagar 1st Street(Chithirai to Panguni Streets)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Balamurugan Nagar 1st Street(Chithirai to Panguni Streets)?

The Sub Registrar Office that covers Balamurugan Nagar 1st Street(Chithirai to Panguni Streets) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, safeguarding the interests of the state while providing a clear framework for property transactions.

Frequently asked questions

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

The current guideline value of Balamurugan Nagar 1st Street(Chithirai to Panguni Streets) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Balamurugan Nagar 1st Street?

The land classification for Balamurugan Nagar 1st Street(Chithirai to Panguni Streets) is Residential Class IV Type - I.

Where can I find the registration office for this street?

The registration office that covers Balamurugan Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

For a property with a guideline value of Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500.