Guideline Value for Balvadi 4th Street

Balvadi 4th Street guideline value

The current guideline value of Balvadi 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Balvadi 4th Street has changed

The guideline value for Balvadi 4th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 75 per sq.ft. This increased to Rs 83 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, which was a 382% jump. Following this, the 2012 revision set the value at Rs 3,000 per sq.ft, reflecting a substantial increase of 650% from the previous revision. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, which was a 33% drop. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally, the current value is Rs 3,300 per sq.ft as of the 2024 revision, indicating a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 4,300%. There are no figures available for the revisions of years not listed for Balvadi 4th Street in the register.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Balvadi 4th Street's 2024 figure above this median.

• Balvadi 3rd Street: Rs 3,300 per sq.ft (2024)
• Balvadi 5th Street: Rs 3,300 per sq.ft (2024)
• Balvadi 2nd Street: Rs 3,300 per sq.ft (2024)
• Balvadi Main Road: 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 4th 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, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balvadi 4th Street?

The Sub Registrar Office that covers Balvadi 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring transparency and compliance with local regulations.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs for the buyer. It is important for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Balvadi 4th Street?

The current guideline value of Balvadi 4th 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 75 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 4,300% over this period.

What are the stamp duty and registration fees for property in Balvadi 4th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Which Sub Registrar Office covers Balvadi 4th Street?

The Virugambakkam Sub Registrar Office covers Balvadi 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Balvadi 4th Street?

Balvadi 4th Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.