Guideline Value for BALAJI AVENUE (WARD -9)

Balaji Avenue (Ward -9) guideline value

The current guideline value of Balaji Avenue (Ward -9) is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Goodaloor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaji Avenue (Ward -9) has changed

Looking at the revisions, the guideline value for Balaji Avenue (Ward -9) has seen several changes over the years. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 502 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 750 per sq.ft in the 2023 revision, followed by a further increase to Rs 825 per sq.ft in the 2024 revision, representing a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Goodaloor

In Goodaloor village, there are 53 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 385 to Rs 2,510 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Balaji Avenue (Ward -9) above this median.

• Astalakshmi Nagar: Rs 825 per sq.ft (2024)
• Chinna Vattamman Kovil Street (Kod): Rs 550 per sq.ft (2024)
• Cmda -Gudaloor Scheme Block No.8: Rs 825 per sq.ft (2024)
• Coodalur Village Colony (Ward -9): Rs 385 per sq.ft (2024)
• Coodalur Village (Ward -9): Rs 825 per sq.ft (2024)
• Agraharam (Ward -9): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue (Ward -9)

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total charges to Rs 74,250. 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 more details.

Which Sub Registrar Office covers Balaji Avenue (Ward -9)?

The Sub Registrar Office that covers Balaji Avenue (Ward -9) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Goodaloor, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value serves as a benchmark for property transactions, ensuring that the prices reflect the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Balaji Avenue (Ward -9)?

The current guideline value of Balaji Avenue (Ward -9) is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for Balaji Avenue (Ward -9)?

Balaji Avenue (Ward -9) is classified as Residential Class I Type - I. This classification is important for understanding the intended use of the land.

What is the registration office for Balaji Avenue (Ward -9)?

The registration office for Balaji Avenue (Ward -9) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions in Goodaloor?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,25,000, the stamp duty at 7% would amount to Rs 57,750.