Guideline Value for Balamurugan Nagar, Tansi Nagar Extn

Balamurugan Nagar, Tansi Nagar Extn guideline value

The current guideline value for Balamurugan Nagar, Tansi Nagar Extn is Rs 4,950 per sq.ft, effective from 1 July 2024. This area falls under Velachery village and is classified as Residential Class II Type - I, governed by the Velacheri SRO.

How the guideline value of Balamurugan Nagar, Tansi Nagar Extn has changed

The guideline value for Balamurugan Nagar, Tansi Nagar Extn has seen several revisions over the years. In 2012, the guideline value was Rs 4,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 4,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,950 per sq.ft, marking a 10% rise from the previous year.

Looking at the overall changes, from 2012 to 2024, there has been an increase of 10% in the guideline value. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Balamurugan Nagar, Tansi Nagar Extn's 2024 figure above this median.

• Balamurugan Nagar Extn: Rs 3,850 per sq.ft (2024)
• 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 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, Tansi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balamurugan Nagar, Tansi Nagar Extn?

The Sub Registrar Office that covers Balamurugan Nagar, Tansi Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property transactions in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid penalties.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar, Tansi Nagar Extn?

The current guideline value of Balamurugan Nagar, Tansi Nagar Extn is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 4,950 per sq.ft in 2024, reflecting a 10% increase overall from 2012 to 2024. The value remained unchanged at Rs 4,500 per sq.ft between 2012 and 2023.

What are the other streets in Velachery with guideline values?

Other streets in Velachery have guideline values ranging from Rs 3,850 per sq.ft. These streets include Balamurugan Nagar Extn, Balamurugan Nagar 3rd Street, and others, all listed with the same rate for 2024.

What fees should I expect when buying property in Balamurugan Nagar?

When buying property in Balamurugan Nagar, you should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 4,45,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Balamurugan Nagar?

The Velacheri Sub Registrar Office covers Balamurugan Nagar, Tansi Nagar Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information about your SRO online.