Guideline Value for Balamurugan Nagar Raji Street - 2nd Lane

Balamurugan Nagar Raji Street - 2nd Lane guideline value

The current guideline value for Balamurugan Nagar Raji Street - 2nd Lane 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 Raji Street - 2nd Lane has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 2,412 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 3,600 per sq.ft in 2023, and further rose by 10% to reach Rs 3,960 per sq.ft in the 2024 revision.

There are no recorded guideline values for Balamurugan Nagar Raji Street in the years 2002, 2003, and 2007. The increase from Rs 2,412 per sq.ft in 2017 to Rs 3,600 per sq.ft in 2023 represents a substantial rise of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur village, 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 aligns with the current value for Balamurugan Nagar Raji Street - 2nd Lane.

• Balamurugan Nagar Raji Street - 1st Lane: Rs 3,960 per sq.ft (2024)
• Balamurugan Nagar - Ranganathan Street: 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 Raji Street - 2nd Lane

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, while the registration fee at 2% would be Rs 79,200, bringing the total fees together 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan Nagar Raji Street - 2nd Lane?

The Sub Registrar Office that covers Balamurugan Nagar Raji Street - 2nd Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai - 600 069. For more details, 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 in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar Raji Street - 2nd Lane?

The current guideline value of Balamurugan Nagar Raji Street - 2nd Lane is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 3,600 per sq.ft to Rs 2,412 per sq.ft in 2017, then increased to Rs 3,600 per sq.ft in 2023, and finally reached Rs 3,960 per sq.ft in 2024.

What is the land classification for Balamurugan Nagar Raji Street - 2nd Lane?

The land classification for Balamurugan Nagar Raji Street - 2nd Lane is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Balamurugan Nagar Raji Street - 2nd Lane 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 this area?

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