Guideline Value for Bala Vinayagar Koil Street

Bala Vinayagar Koil Street guideline value

The current guideline value of Bala Vinayagar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bala Vinayagar Koil Street has changed

The guideline value for Bala Vinayagar Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 292 per sq.ft, which increased to Rs 332 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,200 per sq.ft in 2007, marking an increase of 261%. The value then changed to Rs 3,000 per sq.ft in 2012, which was a 150% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,030%. The register has no figures for the years not mentioned in the list provided.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. Bala Vinayagar Koil Street's 2024 figure is below this median.

• Bala Vinayagar Murthy Colony: Rs 3,300 per sq.ft (2024)
• Balu Samy Naidu Street (Balu Samy Street): Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Avvaiyar Street: Rs 3,300 per sq.ft (2024)
• Ashokan Street: Rs 2,800 per sq.ft (2024)
• Church Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bala Vinayagar Koil Street?

The Sub Registrar Office that covers Bala Vinayagar Koil Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the sale price alone.

When a property is registered, the guideline value helps determine the official value of the property for taxation purposes. Buyers and sellers should be aware of the guideline value in their area to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Bala Vinayagar Koil Street?

The current guideline value of Bala Vinayagar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 292 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,030%.

What is the land classification for Bala Vinayagar Koil Street?

Bala Vinayagar Koil Street is classified as Residential Class I Type - III.

Where can I find the registration office for properties in Nanganallur?

The registration office for properties in Nanganallur is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Bala Vinayagar Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.