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Guideline Value

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Guideline Value for BALAKUMARAN NAGAR PHASE - I

₹440/sq.ft.

The guideline value for Balakumaran Nagar Phase - I in Palavedu village (Avadi SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavedu

Village

Avadi

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹400 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District
044-26558484
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balakumaran Nagar Phase - I

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Balakumaran Nagar Phase - I guideline value

The current guideline value of Balakumaran Nagar Phase - I is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Palavedu village, under the Avadi Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Balakumaran Nagar Phase - I has changed

In the 2017 revision, the guideline value was Rs 400 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 400 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 440 per sq.ft, marking a 10% rise from the previous year. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 10%. The 2024 figure of Rs 440 per sq.ft aligns with the median guideline value for the 18 streets in Palavedu under the Avadi SRO, which ranges from Rs 290 to Rs 1,100 per sq.ft.

Guideline values in Palavedu

In Palavedu, the guideline values for various streets vary significantly, with the 2024 figures ranging from Rs 290 to Rs 1,100 per sq.ft. The median value is Rs 440 per sq.ft, which is the same as the guideline value for Balakumaran Nagar Phase - I. Below are some of the other streets in Palavedu:

Stamp duty and registration fee for property in Balakumaran Nagar Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It's important to note that 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 more details.

Which Sub Registrar Office covers Balakumaran Nagar Phase - I?

The Balakumaran Nagar Phase - I is covered by the Avadi Sub Registrar Office, located at 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 Palavedu

The guideline value plays a crucial role in the registration process when buying or selling property in Palavedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at fair values.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balakumaran Nagar Phase - I?

The current guideline value of Balakumaran Nagar Phase - I is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 400 per sq.ft to Rs 440 per sq.ft in 2024, marking a 10% rise. The value remained unchanged at Rs 400 per sq.ft from 2017 to 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Balakumaran Nagar Phase - I?

The Avadi Sub Registrar Office handles the registration for Balakumaran Nagar Phase - I, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used as a benchmark for property registration, determining the minimum value at which a property can be registered. It is essential for calculating the stamp duty and registration fees during property transactions.