Guideline Value for BALAVINAYAGAM KOVIL STREET

Balavinayagam Kovil Street guideline value

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

How the guideline value of Balavinayagam Kovil Street has changed

The guideline value for Balavinayagam Kovil Street has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft, and in the 2024 revision, it increased to Rs 700 per sq.ft, marking a change of +133%.

This 2024 figure of Rs 700 per sq.ft is equal to the median guideline value for other streets in Ponneri, which ranges from Rs 201 to Rs 1,200 per sq.ft. The 2023 revision of Rs 300 per sq.ft represented a considerable increase compared to the previous value, reflecting the current guideline value's alignment with the median.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO that carry a 2024 guideline value. The values range from Rs 201 to Rs 1,200 per sq.ft, with Balavinayagam Kovil Street's 2024 figure matching the median of Rs 700 per sq.ft. Below are other streets in Ponneri with their respective guideline values:

• Balan Nagar: Rs 700 per sq.ft (2024)
• Balammal Street: Rs 700 per sq.ft (2024)
• Balammal Nagar: Rs 700 per sq.ft (2024)
• Barma Nagar / Anna Nagar: Rs 700 per sq.ft (2024)
• Balaji Nagar Virivakkam: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Balavinayagam Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balavinayagam Kovil Street?

The Sub Registrar Office that covers Balavinayagam Kovil Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value will be referenced to calculate the necessary fees, ensuring compliance with local regulations. This value helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Balavinayagam Kovil Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting a significant increase of +133%. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Balavinayagam Kovil Street?

Balavinayagam Kovil Street is classified as Residential Class II Type - I. This classification is important for determining the appropriate uses and regulations for properties in this area.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the Ponneri area.

How is stamp duty calculated for properties in Balavinayagam Kovil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, resulting in a stamp duty of Rs 49,000.