Guideline Value for BALAVINAYAGAR NAGAR EXTN.,

Balavinayagar Nagar Extn., guideline value

The current guideline value of Balavinayagar Nagar Extn., is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Balavinayagar Nagar Extn., has changed

The guideline value for Balavinayagar Nagar Extn. has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,350 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 307% rise. However, this value decreased to Rs 3,685 per sq.ft in 2017, reflecting a 33% decline. The value then rose sharply to Rs 5,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 6,000 per sq.ft, representing a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 344%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is equal to the 2024 figure for Balavinayagar Nagar Extn.

• Balavinayagar Nagar: Rs 6,000 per sq.ft (2024)
• Balavinayagar Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar 4th Street: Rs 6,000 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Balavinayagar Nagar Extn.,

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balavinayagar Nagar Extn.,?

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

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

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

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall transaction costs. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Balavinayagar Nagar Extn.?

The current guideline value of Balavinayagar Nagar Extn. 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 1,350 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 344% over this period.

What are the other streets in Arumbakkam with the same guideline value?

Other streets in Arumbakkam with the same guideline value of Rs 6,000 per sq.ft include Balavinayagar Nagar, Balavinayagar Street, Balavinayagar 4th Street, Balavinayagar 3rd Street, Balavinayagar 2nd Street, and Balavinayagar 1st Street.

What fees are associated with registering property in Balavinayagar Nagar Extn.?

The fees associated with registering property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Kodambakkam Sub Registrar Office located?

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