Guideline Value for BALAVINGAYAR NAGAR (Kallikuppam)

BALAVINGAYAR NAGAR (Kallikuppam) guideline value

The current guideline value of BALAVINGAYAR NAGAR (Kallikuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under Korattur village and is classified as Residential Class III Type - III, under the Villivakkam SRO.

How the guideline value of BALAVINGAYAR NAGAR (Kallikuppam) has changed

The guideline value for BALAVINGAYAR NAGAR (Kallikuppam) has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that BALAVINGAYAR NAGAR's 2024 figure is below this median.

• Balavingayar Koil Street: Rs 1,600 per sq.ft (2024)
• Baliamman Street: Rs 1,300 per sq.ft (2024)
• Balavinayagar Nagar Extention: Rs 2,010 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 NAGAR (Kallikuppam)

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, resulting in a total cost of Rs 1,44,000. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers BALAVINGAYAR NAGAR (Kallikuppam)?

The Sub Registrar Office that covers BALAVINGAYAR NAGAR (Kallikuppam) 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 the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the authorities.

When a property is registered, the guideline value is used to assess the applicable fees, which are charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of BALAVINGAYAR NAGAR (Kallikuppam)?

The current guideline value of BALAVINGAYAR NAGAR (Kallikuppam) 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of BALAVINGAYAR NAGAR (Kallikuppam)?

BALAVINGAYAR NAGAR (Kallikuppam) is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for BALAVINGAYAR NAGAR?

The Sub Registrar Office for BALAVINGAYAR NAGAR (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in BALAVINGAYAR NAGAR?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,12,000.