Guideline Value for BALAJI AVENUE

Balaji Avenue guideline value

The current guideline value of Balaji Avenue, located in Perumattu Nellore village, is Rs 500 per sq.ft. This value is effective from the 2024 revision, which 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 has changed

Over the years, the guideline value for Balaji Avenue has seen various revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision saw a decrease to Rs 335 per sq.ft, marking a drop of 33% from the previous value. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft.

The current guideline value of Rs 500 per sq.ft, effective from July 1, 2024, shows no change from the 2023 revision. It is noteworthy that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, indicating that Balaji Avenue's 2024 figure is below this median.

• Balaji Puram: Rs 700 per sq.ft (2024)
• Bhavathi Puram: Rs 500 per sq.ft (2024)
• Annai Meenakshi Nagar: Rs 700 per sq.ft (2024)
• Anantha Viniyaga Nagar: Rs 700 per sq.ft (2024)
• A.K.S. Avenue: Rs 500 per sq.ft (2024)
• A.K.Garden: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000. Together, these fees total Rs 45,000. It is important to note that 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 details.

Which Sub Registrar Office covers Balaji Avenue?

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

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

The guideline value is a crucial factor during the registration of property transactions in Perumattu Nellore. 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 sold, the guideline value helps ensure that the transaction is registered at a fair value, reflecting the local market conditions. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 500 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the 2012 revision at Rs 500 per sq.ft, a drop to Rs 335 per sq.ft in 2017, and returning to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Balaji Avenue?

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

Where can I find the Sub Registrar Office for Balaji Avenue?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for property in Balaji Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 35,000.