Guideline Value for BALM AVENUE

Balm Avenue guideline value

The current guideline value of Balm Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Balm Avenue has changed

The guideline value for Balm Avenue has seen several revisions over the years. In the 2012 revision, the rate was Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,010 per sq.ft. Following that, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise from the 2017 figure. The latest 2024 revision has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Balm Avenue for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. Balm Avenue's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Basil Avenue: Rs 3,300 per sq.ft (2024)
• Basil Avenue Extension: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,950 per sq.ft (2024)
• Blossom: Rs 2,900 per sq.ft (2024)
• Buvaneswari Nagar: Rs 3,300 per sq.ft (2024)
• C.B.O.A Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balm Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 more detailed calculations.

Which Sub Registrar Office covers Balm Avenue?

The Sub Registrar Office that covers Balm Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. The fees are based on the higher of the guideline value or the actual sale price, which ensures that the transaction is recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Balm Avenue?

The current guideline value of Balm Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Chitthalapakkam with similar guideline values?

Other streets in Chitthalapakkam with similar guideline values include Basil Avenue, Basil Avenue Extension, Bajanai Koil Street, Blossom, Buvaneswari Nagar, and C.B.O.A Colony, all of which have their own respective rates.

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

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

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, or by using the online find your SRO tool.