Guideline Value for BALAJI AVENUE

Balaji Avenue guideline value

The current guideline value of Balaji Avenue in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Avenue has changed

The guideline value of Balaji Avenue has seen several revisions over the years. In 2002, the value was Rs 628 per sq.ft, which increased to Rs 690 per sq.ft in 2003. The value then rose significantly to Rs 1,400 per sq.ft in 2007, followed by a substantial increase to Rs 5,300 per sq.ft in 2012. However, it decreased to Rs 3,551 per sq.ft in 2017. The value then saw a considerable rise to Rs 5,300 per sq.ft in 2023 before reaching the current figure of Rs 5,800 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, the value rose by 103%; from 2007 to 2012, it decreased by 33%; from 2012 to 2017, it increased by 49%; and from 2023 to 2024, there was a 9% rise. Overall, from 2002 to 2024, the guideline value has increased by 824%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which is equal to the current guideline value of Balaji Avenue. Below are other streets in Puliyur with their respective guideline values:

• Bakthavachalam Colony 2nd Street: Rs 5,800 per sq.ft (2024)
• Bakthavachalam Colony 1st Street: Rs 5,800 per sq.ft (2024)
• Bajanai Koil Street (Puliyurpuram): Rs 5,800 per sq.ft (2024)
• Bajanai Koil Street (Choolaimedu): Rs 5,800 per sq.ft (2024)
• Bajanai Koil New Street (Choolaimedu): Rs 5,800 per sq.ft (2024)
• Bajanai Koil I St Cross Street: Rs 5,800 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 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total fees together to Rs 5,22,000. 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 that covers Balaji Avenue is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the guideline value serves as a benchmark for calculating the registration costs. Buyers should be aware that the fees are based on the guideline value or the sale price, whichever is higher, ensuring that the registration process is aligned with the official valuations set by the government.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 5,800 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 628 per sq.ft in 2002 to the current figure of Rs 5,800 per sq.ft in 2024, marking an overall increase of 824% over the years.

What is the land classification for Balaji Avenue?

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

What are the stamp duty rates for property in Balaji Avenue?

The stamp duty for property transactions in Balaji Avenue is 7% of the guideline value, while the registration fee is 2% of the guideline value.

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

The Kodambakkam Sub Registrar Office, which covers Balaji Avenue, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.