Guideline Value for Balamurugan Nagar

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This locality is situated in Adhanoor village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Balamurugan Nagar has changed

The guideline value for Balamurugan Nagar has seen several revisions over the years. The earliest available revision is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value remained at Rs 670 per sq.ft until the 2023 revision, which maintained the same rate. The current value of Rs 1,000 per sq.ft from the 2024 revision reflects no change from the previous year, 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 150%.

Guideline values in Adhanoor

In Adhanoor, there are a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the current value for Balamurugan Nagar.

• Balaramapuram: Rs 1,000 per sq.ft (2024)
• Barathi Nagar: Rs 1,000 per sq.ft (2024)
• Bargavi Avenue: Rs 1,000 per sq.ft (2024)
• Balaji Nagar: Rs 1,000 per sq.ft (2024)
• Bhagavath Ramanujar Town: Rs 1,000 per sq.ft (2024)
• Bharathi Nagar Part -I: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential 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?

Balamurugan Nagar falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Adhanoor. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When purchasing property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. It is essential to ensure that these fees are accounted for in the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and remained at Rs 670 per sq.ft until 2023. The value is now Rs 1,000 per sq.ft as of the 2024 revision.

What are the other streets in Adhanoor with the same guideline value?

Several other streets in Adhanoor also have a guideline value of Rs 1,000 per sq.ft as of 2024. These include Balaramapuram, Barathi Nagar, Bargavi Avenue, Balaji Nagar, Bhagavath Ramanujar Town, and Bharathi Nagar Part -I.

What is the stamp duty rate in Balamurugan Nagar?

The stamp duty rate for property transactions in Balamurugan Nagar is 7%. This is calculated based on the higher of the guideline value or the sale price of the property.

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

The Gooduvancheri Sub Registrar Office, which covers Balamurugan Nagar, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.