Guideline Value for BALAJI AVENUE V.G.P. 3RD MAIN ROAD

Balaji Avenue V.G.P. 3rd Main Road guideline value

The current guideline value for Balaji Avenue V.G.P. 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Avenue V.G.P. 3rd Main Road has changed

The guideline value for Balaji Avenue V.G.P. 3rd Main Road has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 567% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%, highlighting significant fluctuations in the property values over the years.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Balaji Avenue V.G.P. 3rd Main Road.

• Balaji Avenue Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Balaji Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Balaji Avenue: Rs 2,200 per sq.ft (2024)
• Athithanar Nagar Ist Street: Rs 2,200 per sq.ft (2024)
• Athithanar Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue V.G.P. 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Balaji Avenue V.G.P. 3rd Main Road?

The Sub Registrar Office that covers Balaji Avenue V.G.P. 3rd Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Balaji Avenue V.G.P. 3rd Main Road?

The current guideline value for Balaji Avenue V.G.P. 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. The most significant increase occurred from 2007 to 2012, where it rose by 567%.

What are the other streets in Iyyappanthangal with the same guideline value?

Other streets in Iyyappanthangal that share the same guideline value of Rs 2,200 per sq.ft include Balaji Avenue Main Road, Balaji Avenue 2nd Street, Balaji Avenue 1st Street, Balaji Avenue, Athithanar Nagar Ist Street, and Athithanar Nagar 4th Street.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Balaji Avenue V.G.P. 3rd Main Road?

The Sub Registrar Office for Balaji Avenue V.G.P. 3rd Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information about your SRO online.