Guideline Value for BALAJI ST

Balaji St guideline value

The current guideline value of Balaji St in Vilingiyambakkam village, under the Avadi SRO, is Rs 1,310 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Balaji St has changed

The guideline value for Balaji St has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision and further rose to the current value of Rs 1,310 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 9% increase. Overall, comparing the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 4,400 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Balaji St's current value above this median.

• Balamurugan St: Rs 935 per sq.ft (2024)
• Balaji Nagar: Rs 1,310 per sq.ft (2024)
• Balaji Avenue: Rs 1,310 per sq.ft (2024)
• Balaji 3rd Cross St: Rs 1,310 per sq.ft (2024)
• Balaji 2nd Cross St: Rs 1,310 per sq.ft (2024)
• Balaji 1st Cross St: Rs 1,310 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,310 per sq.ft, the total guideline value amounts to Rs 13,10,000. The stamp duty at 7% would be Rs 91,700, and the registration fee at 2% would be Rs 26,200, totaling Rs 1,17,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji St?

The Sub Registrar Office that covers Balaji St 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 details.

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

The guideline value is a crucial factor in property transactions in Vilingiyambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate the applicable stamp duty and registration fees during the transaction process.

When buying or selling property, understanding the guideline value helps ensure compliance with local regulations and provides clarity on the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Balaji St?

The current guideline value of Balaji St is Rs 1,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,310 per sq.ft in 2024.

What is the median guideline value in Vilingiyambakkam?

The median guideline value for streets in Vilingiyambakkam is Rs 935 per sq.ft, which is below the current value of Balaji St.

What are the stamp duty and registration fees for Balaji St?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 91,700, and the registration fee is Rs 26,200, totaling Rs 1,17,900.

Which office handles registrations for Balaji St?

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