Guideline Value for BALAJI AVENUE

Balaji Avenue guideline value

The current guideline value of Balaji Avenue, located in Mitnamalle village under the Avadi SRO, is Rs 802 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. In 2023, the value increased to Rs 600 per sq.ft, and the most recent 2024 revision raised it to Rs 802 per sq.ft, marking a significant increase of 34% from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 34% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft, with the median value being Rs 802 per sq.ft. Balaji Avenue's 2024 figure aligns with this median.

• Bajanai Koil St: Rs 802 per sq.ft (2024)
• Bharath Avenue: Rs 802 per sq.ft (2024)
• Bharathi Nagar: Rs 802 per sq.ft (2024)
• Anna Complex: Rs 802 per sq.ft (2024)
• Chengalaiyamman Koil St: Rs 806 per sq.ft (2024)
• Chidambaram St: Rs 804 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 802 per sq.ft, the total guideline value amounts to Rs 8,02,000. The stamp duty, calculated at 7%, would be Rs 56,140, while the registration fee at 2% would be Rs 16,040. Together, these fees total Rs 72,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office covering Balaji Avenue is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Mitnamalle. 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 registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved in the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 802 per sq.ft in 2024, with several revisions in between, including a decrease to Rs 402 per sq.ft in 2017.

What is the land classification of Balaji Avenue?

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

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Balaji Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 56,140.