Guideline Value for BALAKRISHNA AVENUE

Balakrishna Avenue guideline value

The current guideline value of Balakrishna Avenue is Rs 100 per sq.ft. This street is located in Devanthavakkam village, under the Oothukkottai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balakrishna Avenue has changed

Since the 2017 revision, the guideline value for Balakrishna Avenue has seen a significant increase. The 2017 revision set the value at Rs 67 per sq.ft, which was then revised to Rs 100 per sq.ft in 2023. The value remained unchanged from 2023 to 2024, maintaining the rate of Rs 100 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Devanthavakkam

In Devanthavakkam village, there are 12 streets under the Oothukkottai SRO that carry a 2024 guideline value. The guideline value for Balakrishna Avenue matches the median value of Rs 100 per sq.ft for this village.

• Arunachalanagar-Extni: Rs 100 per sq.ft (2024)
• Dr.KALAINGAR NAGAR: Rs 100 per sq.ft (2024)
• Eden Garden: Rs 100 per sq.ft (2024)
• Kalaingar Karunanithi Nagar: Rs 100 per sq.ft (2024)
• Krishna Nagar: Rs 100 per sq.ft (2024)
• Thirumailai Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is calculated at 7%, which comes to Rs 7,000, and the registration fee at 2% amounts to Rs 2,000. Together, the total cost for stamp duty and registration fee is Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balakrishna Avenue?

The Sub Registrar Office that covers Balakrishna Avenue is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Devanthavakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with 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.

Frequently asked questions

What is the current guideline value of Balakrishna Avenue?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the land classification for Balakrishna Avenue?

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

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated for properties in Balakrishna Avenue?

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