Guideline Value for Balamurugan Thottam

Balamurugan Thottam guideline value

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

How the guideline value of Balamurugan Thottam has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. The most recent revision in 2024 has increased this to Rs 1,700 per sq.ft, marking a significant increase of 69%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the guideline value for Balamurugan Thottam has seen an increase from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024. The absence of figures in the intervening years indicates that the value remained unchanged during those periods.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Balamurugan Thottam is below this median.

• Balakrishnan Street: Rs 2,200 per sq.ft (2024)
• Bay View Avenue & Drive: Rs 4,400 per sq.ft (2024)
• Bay View Farms @ Adhithtya Ram Nagar: Rs 1,700 per sq.ft (2024)
• Bay Watch Layout: Rs 4,400 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Bhaktha Vedanthaswamy Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balamurugan Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 detailed calculations.

Which Sub Registrar Office covers Balamurugan Thottam?

The Balamurugan Thottam area falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions in Sholinganallur - 1, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects the official value set by the authorities.

Frequently asked questions

What is the current guideline value of Balamurugan Thottam?

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

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, representing a 69% increase.

Are there any years when the guideline value was not recorded for Balamurugan Thottam?

Yes, the register has no figures for Balamurugan Thottam in the years 2023, 2012, 2007, 2003, and 2002.

What is the registration office for Balamurugan Thottam?

The Neelankarai Sub Registrar Office covers Balamurugan Thottam, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

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