Guideline Value for BALAJI STREET

Balaji Street guideline value

The current guideline value of Balaji Street in Thandurai village, under the Avadi SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Balaji Street has changed

Since the year 2002, the guideline value for Balaji Street has seen significant changes. In 2002, the value was Rs 121 per sq.ft, which increased to Rs 139 per sq.ft in 2003, marking a rise of 15%. The value continued to climb, reaching Rs 386 per sq.ft in 2007, an increase of 178%. The subsequent revision in 2012 saw the value at Rs 1,200 per sq.ft, reflecting a substantial increase of 211% from the previous figure. However, in 2017, the value dropped to Rs 804 per sq.ft, which was a decrease of 33%. The most recent revisions show a rise to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,300 per sq.ft in 2024, marking an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 974%. The register has no figures for the years between 2012 and 2017, as well as for any other years not mentioned.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft, with a median value of Rs 988 per sq.ft. Balaji Street's 2024 guideline value of Rs 1,300 per sq.ft is above this median.

• Balaji Street Charless Nagar: Rs 1,300 per sq.ft (2024)
• Balaji Street (M.T.H.Road Southern Side): Rs 1,300 per sq.ft (2024)
• Balavinayagar St, Kakkanji Nagar: Rs 1,300 per sq.ft (2024)
• Bakthavachala Street: Rs 988 per sq.ft (2024)
• Bakthavachala Nagar Main Road: Rs 988 per sq.ft (2024)
• Bakthavachala Nagar: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balaji Street?

The Sub Registrar Office that covers Balaji Street 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 Thandurai

The guideline value is a critical factor in the registration process when buying or selling property in Thandurai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 121 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 974% over the years.

What is the land classification for Balaji Street?

Balaji Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property on Balaji Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,17,000, calculated based on the guideline value of Rs 13,00,000.

Which office handles the registration for Balaji Street?

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