Guideline Value for Balamurugan Nagar

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Noombal village and falls under the Kunrathur SRO, 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 1,273 per sq.ft, which increased to Rs 1,900 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the value to Rs 2,090 per sq.ft, marking a 10% rise from the previous year and a significant 49% increase from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Noombal

In Noombal, there are 164 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, which is equal to the current value for Balamurugan Nagar.

• Balaji Nagar Main Road: Rs 2,090 per sq.ft (2024)
• Balaji Nagar: Rs 2,090 per sq.ft (2024)
• Brindavan Nagar: Rs 2,090 per sq.ft (2024)
• Ashok Residency Main Road: Rs 2,090 per sq.ft (2024)
• Ashok Nandavanam II: Rs 2,090 per sq.ft (2024)
• Ashok Nandavanam: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balamurugan Nagar?

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

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

When buying or selling property in Noombal, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding this value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,273 per sq.ft in 2017 to Rs 2,090 per sq.ft in 2024, marking a total increase of 64% over this period.

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

Other streets in Noombal, such as Balaji Nagar Main Road, Balaji Nagar, Brindavan Nagar, Ashok Residency Main Road, Ashok Nandavanam II, and Ashok Nandavanam, also have a guideline value of Rs 2,090 per sq.ft in 2024.

What is the stamp duty rate for property transactions in Balamurugan Nagar?

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

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

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