Guideline Value for Balamurugan Nagar

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Attanthangal village under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Balamurugan Nagar has changed

The guideline value for Balamurugan Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then rose to Rs 800 per sq.ft in 2012 before experiencing a decrease to Rs 536 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 800 per sq.ft, and the latest revision in 2024 has increased it to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 487%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with the median value being Rs 880 per sq.ft. Balamurugan Nagar's 2024 figure matches this median value.

• Balaji Avenue: Rs 880 per sq.ft (2024)
• Balaganesar Nagar Main Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 9th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 8th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 7th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 6th Street: Rs 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balamurugan Nagar?

Balamurugan Nagar falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Attanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property sale.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What are the stamp duty and registration fees for property in Balamurugan Nagar?

For a 1,000 sq.ft plot valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Balamurugan Nagar?

Balamurugan Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Balamurugan Nagar?

Balamurugan Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.