Guideline Value for Balamurugan Street

Balamurugan Street guideline value

The current guideline value of Balamurugan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balamurugan Street has changed

The guideline value for Balamurugan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 319 per sq.ft, which increased to Rs 346 per sq.ft in 2003. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by a substantial increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as per the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. Notably, the overall change from 2002 to 2024 reflects an increase of 746%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current value for Balamurugan Street.

• Balaji street: Rs 2,700 per sq.ft (2024)
• Battachariyar Street: Rs 2,700 per sq.ft (2024)
• Bajanai Koil street: Rs 2,700 per sq.ft (2024)
• Badham Street: Rs 2,700 per sq.ft (2024)
• Bharathiyar Street: Rs 2,700 per sq.ft (2024)
• Bharathiyar Street (Kennady Square): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. 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 Street?

The Sub Registrar Office that covers Balamurugan Street 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 Sembiam

The guideline value is a critical factor when registering property transactions in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

Frequently asked questions

What is the current guideline value of Balamurugan Street?

The current guideline value of Balamurugan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 319 per sq.ft in 2002 to the current Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 746% since 2002.

What are the stamp duty and registration fees for properties on Balamurugan Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Balamurugan Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Balamurugan Street.

What is the land classification for Balamurugan Street?

Balamurugan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.