Guideline Value for BALAVINGAYAR KOIL STREET

Balavingayar Koil Street guideline value

The current guideline value of Balavingayar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Balavingayar Koil Street has changed

The guideline value of Balavingayar Koil Street has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft. It increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, which represented a 33% drop. The value then rose again to Rs 1,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for Balavingayar Koil Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Balavingayar Koil Street is below this median.

• BALAVINGAYAR NAGAR (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Balavinayagar Nagar Extention: Rs 2,010 per sq.ft (2024)
• Baliamman Street: Rs 1,300 per sq.ft (2024)
• Balan Nagar: Rs 1,600 per sq.ft (2024)
• Barani Jothi Nagar: Rs 2,900 per sq.ft (2024)
• Balaji Nagar Near Railway Track 1,2,3 Streets: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balavingayar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balavingayar Koil Street?

The Sub Registrar Office that covers Balavingayar Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal and financial obligations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balavingayar Koil Street?

The current guideline value of Balavingayar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 540%.

What are the other streets in Korattur with similar guideline values?

Other streets in Korattur include BALAVINGAYAR NAGAR (Kallikuppam) and Balan Nagar, both at Rs 1,600 per sq.ft in 2024.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Balavingayar Koil 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 would incur a stamp duty of Rs 1,12,000.