Guideline Value for Balaji Govinda Nagar

Balaji Govinda Nagar guideline value

The current guideline value of Balaji Govinda Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaji Govinda Nagar has changed

The guideline value for Balaji Govinda Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,540 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is equal to the current value of Balaji Govinda Nagar.

• Bajanai Koil Street: Rs 1,540 per sq.ft (2024)
• Balambika Nagar: Rs 1,540 per sq.ft (2024)
• Ayyappa Thirumadam Road: Rs 1,540 per sq.ft (2024)
• Baniathamman Koil Street Slab Road: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Govinda Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty, charged at 7%, would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Govinda Nagar?

Balaji Govinda Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruverkadu, as it determines the minimum price at which properties can be registered. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Govinda Nagar?

The current guideline value of Balaji Govinda Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,540 per sq.ft in 2024, marking a 10% increase. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification of Balaji Govinda Nagar?

Balaji Govinda Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations in the area.

How do stamp duty and registration fees work in Balaji Govinda Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,38,600 in fees.