Guideline Value for BALAJI AVENUE IIND STREET

Balaji Avenue Iind Street guideline value

The current guideline value of Balaji Avenue Iind Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Balaji Avenue Iind Street has changed

Over the years, the guideline value of Balaji Avenue Iind Street has undergone significant changes. Starting from the 2002 revision, the value was Rs 1,604 per sq.ft. In 2003, it increased to Rs 1,781 per sq.ft, marking an 11% rise. The value continued to climb, reaching Rs 3,000 per sq.ft in 2007, which was a 68% increase from the previous revision. By 2012, the guideline value was Rs 13,000 per sq.ft, reflecting a substantial 333% increase from 2007. However, in 2017, the value dropped to Rs 8,710 per sq.ft, showing a decrease of 33% from 2012. The 2023 revision saw the value rise again to Rs 13,000 per sq.ft, followed by a further increase to Rs 14,300 per sq.ft in 2024, which is a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 792%. There are no figures available for any other revisions for this street.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, and Balaji Avenue Iind Street's 2024 figure is above this median.

• Balaji Avenue 1 St 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 Iind Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Balaji Avenue Iind Street?

The Sub Registrar Office that covers Balaji Avenue Iind Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the higher of the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Avenue Iind Street?

The current guideline value of Balaji Avenue Iind 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 significantly, increasing from Rs 1,604 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, which is an overall increase of 792%.

What is the registration office for Balaji Avenue Iind Street?

The Thiyagaraya nagar Sub Registrar Office covers Balaji Avenue Iind Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for property in Balaji Avenue Iind Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fee would amount to Rs 12,87,000.

Where can I find more information about the guideline values in Tnagar?

More information about the guideline values in Tnagar can be found in the registration department's guideline value register, which outlines the values for various streets in the area.