Guideline Value for BALAKRISHNAN NAGAR & STREETS

Balakrishnan Nagar & Streets guideline value

The current guideline value for Balakrishnan Nagar & Streets is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village under the Avadi SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Balakrishnan Nagar & Streets has changed

The guideline value for Balakrishnan Nagar & Streets has undergone several revisions over the years. In 2017, the guideline value was Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures recorded for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the current guideline value for Balakrishnan Nagar & Streets.

• Balamurugan Nagar: Rs 1,175 per sq.ft (2024)
• Balamurugan Nagar Part I: Rs 1,320 per sq.ft (2024)
• Balaji Nagar Extn: Rs 770 per sq.ft (2024)
• Balaji Nagar: Rs 770 per sq.ft (2024)
• Balaji Garden: Rs 770 per sq.ft (2024)
• Balaji Avenue: Rs 768 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Nagar & Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty, calculated at 7%, would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for these fees would be Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balakrishnan Nagar & Streets?

The Sub Registrar Office that covers Balakrishnan Nagar & Streets is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value plays a crucial role during the registration of property transactions in Thiruninravur-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Balakrishnan Nagar & Streets?

The current guideline value for Balakrishnan Nagar & Streets is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions, ensuring that all legal requirements are met and that the appropriate fees are collected based on the guideline value.

How is stamp duty calculated for properties in Balakrishnan Nagar & Streets?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900.

Are there other streets with the same guideline value in Thiruninravur-B?

Yes, several other streets in Thiruninravur-B have the same guideline value of Rs 770 per sq.ft, including Balaji Nagar Extn, Balaji Nagar, and Balaji Garden.