Guideline Value for BalaVinayagar Street

BalaVinayagar Street guideline value

The current guideline value of BalaVinayagar Street is Rs 175 per sq.ft, effective from 1 July 2024. This street is located in Palnalloor village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of BalaVinayagar Street has changed

The guideline value for BalaVinayagar Street has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 175 per sq.ft, which is the same as the previous year’s figure from 2023. Prior to that, in 2017, the guideline value was Rs 117 per sq.ft, reflecting a 50% increase to the 2023 value. The 2012 revision also recorded Rs 175 per sq.ft, marking a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for BalaVinayagar Street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 175 per sq.ft.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of BalaVinayagar Street is below this median.

• Balaji Nagar Part - I: Rs 200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 175 per sq.ft (2024)
• Bharathi Nagar: Rs 200 per sq.ft (2024)
• Anumanth Nagar: Rs 200 per sq.ft (2024)
• Colony School Street: Rs 175 per sq.ft (2024)
• Annai Therasa Nagar: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in BalaVinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, while the registration fee at 2% would be Rs 3,500, making the total cost for these fees Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BalaVinayagar Street?

The Sub Registrar Office that covers BalaVinayagar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palnalloor. It is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the value of the property is accurately reflected in official records.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of BalaVinayagar Street?

The current guideline value of BalaVinayagar Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 175 per sq.ft in both 2023 and 2024. It increased from Rs 117 per sq.ft in 2017, and the 2012 revision also recorded Rs 175 per sq.ft.

What is the classification of land on BalaVinayagar Street?

BalaVinayagar Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for BalaVinayagar Street?

The Sub Registrar Office for BalaVinayagar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Palnalloor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,75,000, the stamp duty would be Rs 12,250 at a rate of 7%.