Guideline Value for Balvadi Main Road

Balvadi Main Road guideline value

The current guideline value of Balvadi Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Balvadi Main Road has changed

The guideline value of Balvadi Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 75 per sq.ft, which increased to Rs 83 per sq.ft in 2003. Following this, the value surged to Rs 400 per sq.ft in 2007, marking an increase of 382%. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, a substantial increase of 650%. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023 and further increased to Rs 3,300 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 4,300%. There are no figures available for the years not listed in the register for this street.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that Balvadi Main Road's 2024 guideline value is above this median.

• Balvadi 5th Street: Rs 3,300 per sq.ft (2024)
• Balvadi 4th Street: Rs 3,300 per sq.ft (2024)
• Balvadi 3rd Street: Rs 3,300 per sq.ft (2024)
• Balvadi 2nd Street: Rs 3,300 per sq.ft (2024)
• Balvadi 1st Street: Rs 3,300 per sq.ft (2024)
• Balavinayagar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balvadi Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balvadi Main Road?

The Sub Registrar Office that covers Balvadi Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two 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 Balvadi Main Road?

The current guideline value of Balvadi Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 75 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 4,300%.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with a guideline value of Rs 3,300 per sq.ft include Balvadi 1st Street, Balvadi 2nd Street, Balvadi 3rd Street, Balvadi 4th Street, and Balvadi 5th Street.

Where can I find the Sub Registrar Office for Balvadi Main Road?

The Sub Registrar Office for Balvadi Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Nerkundram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.