Guideline Value for BALAVINAYAGAR AVENUE

Balavinayagar Avenue guideline value

The current guideline value of Balavinayagar Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balavinayagar Avenue has changed

The guideline value for Balavinayagar Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 4,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,680 per sq.ft. However, the value significantly increased in the 2023 revision to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Overall, the guideline value has changed from Rs 4,000 in 2012 to Rs 4,400 in 2024, reflecting a 10% increase. The most significant change occurred between 2017 and 2023, where the value rose by 49%. The change from 2012 to 2017 saw a decrease of 33%, indicating fluctuations in the guideline value over the years.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Balavinayagar Avenue's 2024 figure above this median.

• BALAMURUGAN GARDEN 6th CROSS STREET: Rs 5,500 per sq.ft (2024)
• BALAMURUGAN GARDEN 5th CROSS STREET: Rs 5,500 per sq.ft (2024)
• BALAMURUGAN GARDEN 4th CROSS STREET: Rs 5,500 per sq.ft (2024)
• BALAMURUGAN GARDEN 3rd MAIN ROAD: Rs 6,100 per sq.ft (2024)
• BALAMURUGAN GARDEN 3rd CROSS STREET: Rs 5,500 per sq.ft (2024)
• BALAMURUGAN GARDEN 2nd MAIN ROAD: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balavinayagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balavinayagar Avenue?

The Sub Registrar Office that covers Balavinayagar Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market conditions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers must ensure that the sale price is equal to or higher than the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Balavinayagar Avenue?

The current guideline value of Balavinayagar Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 in 2012 to Rs 2,680 in 2017, then back to Rs 4,000 in 2023, and finally to Rs 4,400 in 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

What is the land classification of Balavinayagar Avenue?

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

What are the stamp duty and registration fees for properties in Balavinayagar Avenue?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000 in fees. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balavinayagar Avenue located?

The Neelankarai Sub Registrar Office, which covers Balavinayagar Avenue, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.