Guideline Value for BALAJI AVENUE

Balaji Avenue guideline value

The current guideline value of Balaji Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class I Type - III.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has seen several revisions over the years. In 2012, the value was set at Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,474 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, which was a rise of 36% from the previous figure. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a growth of 10% from the 2023 figure.

It is important to note that there are no recorded figures for Balaji Avenue in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained stable, showing no net change.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, placing Balaji Avenue's 2024 figure above this median.

• Balaji Street: Rs 2,160 per sq.ft (2024)
• Balamurugan Street: Rs 2,160 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Balasubramaniyam Street: Rs 2,750 per sq.ft (2024)
• Bashiyam Vathiyar Street: Rs 2,160 per sq.ft (2024)
• Beriamman Koil Street: Rs 2,750 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, which totals Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000. Therefore, the total charges together come to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office that covers Balaji Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must consider this value to ensure compliance with local regulations 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally back to Rs 2,200 per sq.ft in 2024.

What is the land classification of Balaji Avenue?

Balaji Avenue is classified as Residential Class I Type - III.

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

The Sub Registrar Office for Balaji Avenue is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the 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 example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 1,54,000.