Guideline Value for SRI BALAMURUGAN NAGAR

Sri Balamurugan Nagar guideline value

The current guideline value of Sri Balamurugan Nagar, located in Kudapakkam village under the Avadi SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Sri Balamurugan Nagar has changed

In the 2017 revision, the guideline value was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in the 2023 revision, marking a significant change of +49%. The value remained unchanged at Rs 300 per sq.ft in the 2024 revision, resulting in a total increase of +49% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions available are from 2017, 2023, and 2024.

Guideline values in Kudapakkam

In Kudapakkam village, there are 12 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 234 to Rs 2,000 per sq.ft. The median value for these streets is Rs 425 per sq.ft, indicating that the guideline value of Sri Balamurugan Nagar is below this median.

• Sri Chakra Nagar: Rs 300 per sq.ft (2024)
• Spv One Phase-II: Rs 700 per sq.ft (2024)
• Spv One: Rs 600 per sq.ft (2024)
• Valluvar Nagar: Rs 234 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Vikas Royal Enclave: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balamurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value is Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost for these fees Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Balamurugan Nagar?

The Sub Registrar Office covering Sri Balamurugan Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Kudapakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is in accordance with the established rates. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Sri Balamurugan Nagar?

The current guideline value of Sri Balamurugan Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and it remained the same in 2024. This represents a total increase of +49% from 2017 to 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 3,00,000, the stamp duty is Rs 21,000 and the registration fee is Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sri Balamurugan Nagar?

The Avadi Sub Registrar Office handles registrations for Sri Balamurugan Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the median guideline value for streets in Kudapakkam?

The median guideline value for streets in Kudapakkam is Rs 425 per sq.ft. The guideline value of Sri Balamurugan Nagar is below this median at Rs 300 per sq.ft.