Guideline Value for Balamurugan Nagar

Balamurugan Nagar guideline value

The current guideline value of Balamurugan Nagar is Rs 165 per sq.ft, effective from 1 July 2024. This area is located in Puthubakkam village under the Thiruvottiyur SRO, 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 2012, the value was set at Rs 150 per sq.ft, which then decreased to Rs 100 per sq.ft in 2017. Following this, the value increased significantly to Rs 150 per sq.ft in 2023, and further rose to Rs 165 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 50%. Overall, the guideline value has risen by 10% from 2012 to 2024.

Guideline values in Puthubakkam

In Puthubakkam, there are 8 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 249 per sq.ft, with a median value of Rs 248 per sq.ft. Balamurugan Nagar's 2024 figure is below this median.

• Annai Nagar: Rs 165 per sq.ft (2024)
• Madhurai Meenakshi Nagar: Rs 248 per sq.ft (2024)
• Outer Ring Road: Rs 249 per sq.ft (2024)
• Sri Karumaniamman Nagar: Rs 248 per sq.ft (2024)
• Sri Krishna Nagar/Ext/Phases: Rs 248 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 248 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 165 per sq.ft, the guideline value would be Rs 1,65,000. The stamp duty at 7% would amount to Rs 11,550, and the registration fee at 2% would be Rs 3,300, totaling Rs 14,850. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balamurugan Nagar?

Balamurugan Nagar is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Puthubakkam. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property in this area, it is essential to be aware of the current guideline value, as it impacts the overall costs involved in the transaction. Ensuring that you have the correct figures can help in planning your finances effectively.

Frequently asked questions

What is the current guideline value of Balamurugan Nagar?

The current guideline value of Balamurugan Nagar is Rs 165 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 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and finally to Rs 165 per sq.ft in 2024.

What is the land classification of Balamurugan Nagar?

Balamurugan Nagar is classified as Residential Class I Type - I.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Balamurugan Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.