Guideline Value for Balavinayagar Kovil Street

Balavinayagar Kovil Street guideline value

The current guideline value of Balavinayagar Kovil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Puthagaram village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Balavinayagar Kovil Street has changed

Looking at the historical revisions, the guideline value for Balavinayagar Kovil Street has seen several changes. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,200 per sq.ft. The 2017 revision marked a significant increase to Rs 1,474 per sq.ft, reflecting a 49% increase from the previous revision. The register has no figure for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has remained stable at Rs 2,200 per sq.ft. The changes between the revisions show a decrease of 33% from 2012 to 2017, followed by a consistent rate from 2017 to 2024.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft as per the 2024 revision. The median value for these streets is Rs 1,900 per sq.ft, positioning Balavinayagar Kovil Street above this median.

• Balavinayagar Kovil Street(Pelavarai): Rs 2,200 per sq.ft (2024)
• Barathi Nagar: Rs 1,400 per sq.ft (2024)
• Barath Nagar: Rs 1,400 per sq.ft (2024)
• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,600 per sq.ft (2024)
• Ayyappan Nagar Annex: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balavinayagar Kovil Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Balavinayagar Kovil Street?

The Sub Registrar Office that covers Balavinayagar Kovil 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Puthagaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value is referenced to determine the minimum value at which the property can be registered. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balavinayagar Kovil Street?

The current guideline value of Balavinayagar Kovil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 2,200 per sq.ft. The previous revisions include Rs 2,200 in 2023, Rs 1,474 in 2017, and Rs 2,200 in 2012.

What is the land classification for Balavinayagar Kovil Street?

Balavinayagar Kovil Street is classified as Residential Special Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft property valued at Rs 22,00,000 would incur a total of Rs 1,98,000 in fees.

Where can I find the Sub Registrar Office for Balavinayagar Kovil Street?

The Ambattur Sub Registrar Office covers Balavinayagar Kovil Street and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.