Guideline Value for SRI BALAMURUGAN NAGAR

Sri Balamurugan Nagar guideline value

The current guideline value of Sri Balamurugan Nagar is Rs 700 per sq.ft. This area is located in Pakkam village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Balamurugan Nagar has changed

Since the 2012 revision, where the guideline value was Rs 700 per sq.ft, there have been notable changes. The 2017 revision saw a decrease to Rs 469 per sq.ft, marking a decline of 33%. However, this was followed by an increase in the 2023 revision, which brought the value back up to Rs 700 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2012 to the 2023 revision, the guideline value has remained the same at Rs 700 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Pakkam

Currently, there are no specific guideline values listed for other streets in Pakkam under the Tiruvallur Joint 1 SRO. Therefore, Sri Balamurugan Nagar stands as the only street with a defined guideline value.

Stamp duty and registration fee for property in Sri Balamurugan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Balamurugan Nagar?

The Sub Registrar Office that covers Sri Balamurugan Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Pakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are fairly assessed and recorded in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Sri Balamurugan Nagar?

The current guideline value of Sri Balamurugan Nagar is Rs 700 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, and then back to Rs 700 per sq.ft in 2023. This reflects a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

What are the stamp duty and registration fees for properties in Sri Balamurugan Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Sri Balamurugan Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations in Sri Balamurugan Nagar. It is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

Are there other streets in Pakkam with guideline values?

Currently, there are no other streets in Pakkam listed with guideline values under the Tiruvallur Joint 1 SRO. Sri Balamurugan Nagar is the only street with a defined guideline value at this time.