Guideline Value for BALAVINAYAGAR 4TH STREET

Balavinayagar 4th Street guideline value

The current guideline value of Balavinayagar 4th Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Balavinayagar 4th Street has changed

Over the years, the guideline value for Balavinayagar 4th Street has seen several revisions. The earliest recorded figure is from the 2012 revision, which was Rs 5,500 per sq.ft. This was followed by a decrease to Rs 3,685 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 5,500 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no recorded figures for Balavinayagar 4th Street in the revisions from 2002, 2003, and 2007. Overall, when comparing the 2012 figure to the current 2024 figure, there has been a net increase of 9%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging 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 current value for Balavinayagar 4th Street.

• Balavinayagar 3rd Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar 2nd 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balavinayagar 4th Street?

The Sub Registrar Office that covers Balavinayagar 4th 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers should be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value, whether it is sold below or above the guideline value.

Frequently asked questions

What is the current guideline value of Balavinayagar 4th Street?

The current guideline value of Balavinayagar 4th 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 2012 to Rs 3,685 per sq.ft in 2017, then increased to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification for Balavinayagar 4th Street?

The land classification for Balavinayagar 4th Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Balavinayagar 4th Street?

The Kodambakkam Sub Registrar Office covers Balavinayagar 4th Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for property in Balavinayagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 60,00,000, leading to a stamp duty of Rs 4,20,000.