Guideline Value for Balamurugan Nagar

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Kolathur village and is registered with the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Balamurugan Nagar has changed

Since the 2007 revision, the guideline value for Balamurugan Nagar has seen significant changes. The 2007 revision set the value at Rs 915 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a rise of 228%. The value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision before increasing to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 261%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Balamurugan Nagar.

• Balamurugan Street: Rs 3,300 per sq.ft (2024)
• Balakumaran Nagar Part - C: Rs 3,300 per sq.ft (2024)
• Balakumaran Nagar Part - B: Rs 3,300 per sq.ft (2024)
• Balakumaran Nagar Part - A: Rs 3,300 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Balaji Nagar Extension: Rs 4,400 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 915 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 261%.

What is the stamp duty rate in Balamurugan Nagar?

The stamp duty rate in Balamurugan Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Balamurugan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Balamurugan Nagar?

The land classification for Balamurugan Nagar is Residential Class I Type - I.