Guideline Value for Balamurugan Nagar Extn

Balamurugan Nagar Extn guideline value

The current guideline value of Balamurugan Nagar Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Balamurugan Nagar Extn has changed

The guideline value for Balamurugan Nagar Extn has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 2,250 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 56% rise. The value remained unchanged at Rs 3,500 per sq.ft during the 2023 revision.

In the latest 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 71%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Balamurugan Nagar Extn is below this median.

• Balamurugan Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Balamurugan Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Balamurugan Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Balamurugan Nagar, Tansi Nagar Extn: Rs 4,950 per sq.ft (2024)
• Balamurugan Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Balamurugan Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. 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 Extn?

The Sub Registrar Office that covers Balamurugan Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements during the registration process.

When a property is sold, the guideline value or the sale price is considered for calculating the stamp duty, ensuring that the government receives the appropriate revenue from the transaction. It is essential to check the latest guideline values before proceeding with any property transactions in the area.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar Extn?

The current guideline value of Balamurugan Nagar Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,250 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 71%.

What is the registration office for Balamurugan Nagar Extn?

The Velacheri Sub Registrar Office covers Balamurugan Nagar Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates for properties in Balamurugan Nagar Extn?

The stamp duty for properties in Balamurugan Nagar Extn is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.