Guideline Value for BALAJI AVENUE

Balaji Avenue guideline value

The current guideline value of Balaji Avenue in Iyyappanthangal village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and 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. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Balaji Avenue in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 120%.

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 guideline value of Balaji Avenue.

• Balaji Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Balaji Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Balaji Avenue Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Avenue V.G.P. 3rd Main Road: 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

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, resulting in a total of Rs 1,98,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office that covers Balaji Avenue 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 property registration in Iyyappanthangal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a reference point for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers in Iyyappanthangal.

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 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the stamp duty rate for properties in Balaji Avenue?

The stamp duty rate for properties in Balaji Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balaji Avenue located?

The Sub Registrar Office for Balaji Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Are there other streets with the same guideline value in Iyyappanthangal?

Yes, several other streets in Iyyappanthangal have the same guideline value of Rs 2,200 per sq.ft, including Balaji Avenue 1st Street, Balaji Avenue 2nd Street, and others.