Guideline Value for B.L. Avenue

B.L. Avenue guideline value

The current guideline value of B.L. Avenue is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Kaavaathur village and falls under the Madurandakam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of B.L. Avenue has changed

The guideline value for B.L. Avenue has seen several revisions over the years. In 2007, the value was set at Rs 25 per sq.ft. This increased significantly to Rs 80 per sq.ft in 2012, marking a rise of 220%. However, between 2012 and 2017, the value decreased to Rs 54 per sq.ft, which was a drop of 33%. The most recent revisions saw the value rise to Rs 100 per sq.ft in both 2023 and 2024, with no change from 2023 to 2024.

Overall, from 2007 to 2024, the guideline value has increased by 300%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kaavaathur

In Kaavaathur, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which is the same as the 2024 figure for B.L. Avenue.

• B.B. Avenue II: Rs 100 per sq.ft (2024)
• B.B. Avenue: Rs 100 per sq.ft (2024)
• Sai Sadhasiva Garden & Extension: Rs 120 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 100 per sq.ft (2024)
• Sri Sai Nagar: Rs 250 per sq.ft (2024)
• Mullai Nagar Avenue- I: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in B.L. Avenue

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers B.L. Avenue?

The Sub Registrar Office that covers B.L. Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kaavaathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of B.L. Avenue?

The current guideline value of B.L. Avenue is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for B.L. Avenue?

B.L. Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in B.L. Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.