Guideline Value for BALAJI AVENUE 1 ST STREET

Balaji Avenue 1 St Street guideline value

The current guideline value of Balaji Avenue 1 St Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - I.

How the guideline value of Balaji Avenue 1 St Street has changed

The guideline value for Balaji Avenue 1 St Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 3,000 per sq.ft, which increased significantly to Rs 13,000 per sq.ft in the 2012 revision. However, this figure saw a decrease of 33% to Rs 8,710 per sq.ft in the 2017 revision. The 2023 revision marked a substantial increase to Rs 13,000 per sq.ft, followed by a further increase of 10% to the current value of Rs 14,300 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 377%.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, placing Balaji Avenue 1 St Street above this median.

• Balaji Avenue Iind Street: Rs 14,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 5,500 per sq.ft (2024)
• Bagirathiammal Street: Rs 14,300 per sq.ft (2024)
• Balamandir Road: Rs 5,500 per sq.ft (2024)
• Balamuthukrishna Road: Rs 17,600 per sq.ft (2024)
• Balu Mudali Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue 1 St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Avenue 1 St Street?

The Sub Registrar Office covering Balaji Avenue 1 St Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Tnagar. It is used to determine the stamp duty and registration fees payable during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is considered the minimum value for taxation purposes. This ensures that both parties are paying the appropriate fees based on the established guideline value per sq.ft.

Frequently asked questions

What is the current guideline value of Balaji Avenue 1 St Street?

The current guideline value of Balaji Avenue 1 St Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 14,300 per sq.ft in 2024, marking an overall increase of 377%.

What is the land classification for Balaji Avenue 1 St Street?

Balaji Avenue 1 St Street is classified as Mixed Special Type - I.

Which office handles registrations for Balaji Avenue 1 St Street?

The Thiyagaraya nagar Sub Registrar Office handles registrations for Balaji Avenue 1 St Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. It is important to refer to the current guideline value when determining the applicable fees during a property transaction.