Guideline Value for BALAJI NAGAR (AVVAI NAGAR)

Balaji Nagar (Avvai Nagar) guideline value

The current guideline value of Balaji Nagar (Avvai Nagar) is Rs 7,150 per sq.ft, effective from 1 July 2024. This locality is part of Thiruvanmiyur village, falling under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balaji Nagar (Avvai Nagar) has changed

The guideline value for Balaji Nagar (Avvai Nagar) has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 6,500 per sq.ft. This value remained the same in the 2012 revision but saw a decrease to Rs 4,355 per sq.ft in the 2017 revision. Following this, there was a significant increase to Rs 6,500 per sq.ft in the 2023 revision, and then a further rise to the current value of Rs 7,150 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 is an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Balaji Nagar (Avvai Nagar)'s 2024 figure below this median.

• Balakrishna Street: Rs 12,650 per sq.ft (2024)
• Balaguru Colony: Rs 7,150 per sq.ft (2024)
• Balam Estate: Rs 7,150 per sq.ft (2024)
• Balu Avenue: Rs 7,150 per sq.ft (2024)
• Banu Avenue: Rs 7,150 per sq.ft (2024)
• Beach Road: Rs 12,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar (Avvai Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 7,150 per sq.ft, the guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. It is important to note that the 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 Nagar (Avvai Nagar)?

The Sub Registrar Office that covers Balaji Nagar (Avvai Nagar) 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the correct revenue based on the property's assessed value. It is essential for buyers and sellers to 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 Nagar (Avvai Nagar)?

The current guideline value of Balaji Nagar (Avvai Nagar) is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then increased to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What is the land classification for Balaji Nagar (Avvai Nagar)?

Balaji Nagar (Avvai Nagar) is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Balaji Nagar (Avvai Nagar)?

The Sub Registrar Office for Balaji Nagar (Avvai Nagar) 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.

How is the stamp duty calculated for property in Balaji Nagar (Avvai Nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 6,43,500.