Guideline Value for Balamurugan Second Main Road

Balamurugan Second Main Road guideline value

The current guideline value of Balamurugan Second Main Road is Rs 550 per sq.ft, effective from 1 July 2024. This road is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balamurugan Second Main Road has changed

Looking at the revisions over the years, the guideline value for Balamurugan Second Main Road has seen several changes. The 2012 revision set the value at Rs 500 per sq.ft, which later decreased to Rs 335 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, and then rose again to Rs 550 per sq.ft in the 2024 revision, reflecting a total increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram has 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Balamurugan Second Main Road's 2024 figure below that median.

• Balamurugan First Main Road: Rs 550 per sq.ft (2024)
• Balamurugan 2nd Street: Rs 550 per sq.ft (2024)
• Balamurugan 1st Street: Rs 550 per sq.ft (2024)
• Balram Nagar First Main Road: Rs 3,300 per sq.ft (2024)
• Balram Nagar Second Main Road: Rs 1,320 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Second Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. 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 Second Main Road?

The Sub Registrar Office that covers Balamurugan Second Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is an important factor when it comes to property transactions in Kaspapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can affect the final amount they need to pay.

Frequently asked questions

What is the current guideline value of Balamurugan Second Main Road?

The current guideline value of Balamurugan Second Main Road is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Balamurugan Second Main Road?

The land classification for Balamurugan Second Main Road is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Balamurugan Second Main Road is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kaspapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 5,50,000, the stamp duty at 7% would be Rs 38,500.