Guideline Value for BALAVINAYAGAR 3RD STREET

Balavinayagar 3rd Street guideline value

The current guideline value for Balavinayagar 3rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Balavinayagar 3rd Street has changed

The guideline value for Balavinayagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 3,685 per sq.ft. The 2023 revision increased the value to Rs 5,500 per sq.ft, and the latest 2024 revision has raised it to Rs 6,000 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a guideline value range from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, which is the same as the 2024 figure for Balavinayagar 3rd Street.

• Balavinayagar 2nd Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar 4th Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar 1st Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar 1st Main Road: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar Extn.,: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Balavinayagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balavinayagar 3rd Street?

The Sub Registrar Office that covers Balavinayagar 3rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balavinayagar 3rd Street?

The current guideline value of Balavinayagar 3rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024, marking a 9% increase. It was Rs 3,685 per sq.ft in 2017 and Rs 5,500 per sq.ft in 2012, showing a significant increase of 49% from 2017 to 2023.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000, and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Balavinayagar 3rd Street?

The Kodambakkam Sub Registrar Office handles registrations for Balavinayagar 3rd Street. It is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Balavinayagar 3rd Street?

Balavinayagar 3rd Street is classified as Residential Special Type - II, indicating its suitability for residential development.