Guideline Value for BALAVINAYAGAR NAGAR

Balavinayagar Nagar guideline value

The current guideline value for Balavinayagar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Balavinayagar Nagar has changed

The guideline value for Balavinayagar Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 101 per sq.ft. This increased to Rs 250 per sq.ft in 2003, representing a change of +148%. The value then rose to Rs 350 per sq.ft in 2007, which was a +40% increase. Following this, the 2012 revision set the value at Rs 2,000 per sq.ft, marking a significant increase of +471%. However, the 2017 revision saw a decrease to Rs 1,340 per sq.ft, reflecting a -33% change. From 2017 to 2023, the value increased to Rs 2,000 per sq.ft, a rise of +49%. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +2078%. There are no revisions with figures missing for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current value for Balavinayagar Nagar.

• Balvadi 1st Street: Rs 3,300 per sq.ft (2024)
• Balvadi 2nd Street: Rs 3,300 per sq.ft (2024)
• Balvadi 3rd Street: Rs 3,300 per sq.ft (2024)
• Balvadi 4th Street: Rs 3,300 per sq.ft (2024)
• Balvadi 5th Street: Rs 3,300 per sq.ft (2024)
• Balvadi Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balavinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balavinayagar Nagar?

The Sub Registrar Office that covers Balavinayagar Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is considered the minimum value for registration purposes. This means that even if the sale price is lower, the duty will be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Balavinayagar Nagar?

The current guideline value of Balavinayagar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 101 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of +2078% across the years.

What are the other streets in Nerkundram with their guideline values?

Other streets in Nerkundram include Balvadi 1st Street, Balvadi 2nd Street, Balvadi 3rd Street, Balvadi 4th Street, Balvadi 5th Street, and Balvadi Main Road, all with a guideline value of Rs 3,300 per sq.ft in 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Balavinayagar Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Balavinayagar Nagar located?

The Sub Registrar Office for Balavinayagar Nagar is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.