Guideline Value for Balamurugan Nagar

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur SRO and is classified as 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 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Balamurugan Nagar's 2024 figure above this median.

• Balandeeswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Bathiri Medu: Rs 2,200 per sq.ft (2024)
• BathiriMedu Road: Rs 2,200 per sq.ft (2024)
• BalajiNagar 2: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Balaji Avenue: Rs 1,870 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balamurugan Nagar?

The Balamurugan Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When registering a property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value serves as a benchmark for the sale price, influencing the overall cost of property transactions.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

What are the other streets in Mangadu -A with the same guideline value?

Other streets in Mangadu -A that share the same guideline value of Rs 2,200 per sq.ft in 2024 include Balandeeswarar Koil Street, Bathiri Medu, BathiriMedu Road, BalajiNagar 2, and Balaji Nagar.

What is the registration fee for property in Balamurugan Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

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

The Kunrathur Sub Registrar Office covers Balamurugan Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.