Guideline Value for Bala Vinayagar Koil Street

Bala Vinayagar Koil Street guideline value

The current guideline value of Bala Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO and is classified as Residential Special Type - I.

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. The earliest recorded revision was in 2012, where the value was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. In 2023, the value increased to Rs 1,600 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Bala Vinayagar Koil Street's 2024 value is above this median.

• Bala Vinayagar 1st CrossStreet: Rs 1,700 per sq.ft (2024)
• Banu Street: Rs 1,700 per sq.ft (2024)
• Balakrishnan Street: Rs 1,700 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,001 per sq.ft (2024)
• Bharathi Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Street(Arumuga Nagar): Rs 1,700 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 rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with registration requirements. This value helps in establishing a fair transaction process and is essential for legal documentation during the sale.

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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bala Vinayagar Koil Street?

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

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% on the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Bala Vinayagar Koil Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.