Guideline Value for Avia Enclave(Balakrishnan Street)

Avia Enclave(Balakrishnan Street) guideline value

The current guideline value of Avia Enclave (Balakrishnan Street) is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Nanmangalam village, under the Pallavaram SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Avia Enclave(Balakrishnan Street) has changed

The guideline value for Avia Enclave (Balakrishnan Street) has seen several revisions over the years. In 2007, the guideline value was set at Rs 300 per sq.ft. This figure significantly increased to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, which was a decline of 33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,750 per sq.ft in 2024, representing a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 817%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as of 2024. The median guideline value for the village is Rs 2,750 per sq.ft, which is equal to the current value of Avia Enclave (Balakrishnan Street).

• Avvai Nagar: Rs 3,850 per sq.ft (2024)
• Avviyar Street: Rs 2,750 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)
• Arunodhayam Nagar: Rs 2,750 per sq.ft (2024)
• Arul Murugan Nandavanam Nagar: Rs 2,750 per sq.ft (2024)
• ANNA Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Avia Enclave(Balakrishnan Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Avia Enclave(Balakrishnan Street)?

The Sub Registrar Office that covers Avia Enclave (Balakrishnan Street) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nanmangalam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and serves as a benchmark for property transactions in the area.

At the time of registration, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Avia Enclave(Balakrishnan Street)?

The current guideline value of Avia Enclave (Balakrishnan Street) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the land classification for Avia Enclave(Balakrishnan Street)?

Avia Enclave (Balakrishnan Street) is classified under Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Avia Enclave(Balakrishnan Street)?

The registration office for Avia Enclave (Balakrishnan Street) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property transactions in Nanmangalam?

Stamp duty for property transactions in Nanmangalam is calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate fees are collected during the registration process.