Guideline Value for Balavinayagar Koil Street

Balavinayagar Koil Street guideline value

The current guideline value of Balavinayagar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Balavinayagar Koil Street has changed

The guideline value for Balavinayagar Koil Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which later decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Balavinayagar Koil Street's 2024 figure is above this median.

• Balu Avenue: Rs 2,750 per sq.ft (2024)
• Banu Avenue: Rs 1,650 per sq.ft (2024)
• Barath Avenue: Rs 2,750 per sq.ft (2024)
• Barath Avenue I: Rs 2,750 per sq.ft (2024)
• Beeshmar Street: Rs 1,650 per sq.ft (2024)
• Bharathan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balavinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to 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 Balavinayagar Koil Street?

The Sub Registrar Office that covers Balavinayagar Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 Koil Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Balavinayagar Koil Street?

Balavinayagar Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, which is lower than the current guideline value of Balavinayagar Koil Street.

Where is the Sub Registrar Office located for Balavinayagar Koil Street?

The Sub Registrar Office for Balavinayagar Koil Street is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.