Guideline Value for Bala Avenue Extn

Bala Avenue Extn guideline value

The current guideline value of Bala Avenue Extn is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Kanchivakkam village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bala Avenue Extn has changed

The guideline value for Bala Avenue Extn has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft in the 2023 revision. The most recent revision in 2024 maintains this value at Rs 500 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 600 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which aligns with the 2024 figure for Bala Avenue Extn.

• Bala Avenue: Rs 500 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• Barathi Journalist Nagar: Rs 600 per sq.ft (2024)
• Green Grove Jayam Co-op Nagar Annex-3: Rs 600 per sq.ft (2024)
• Green Grove Jayam Nagar Anex-6: Rs 600 per sq.ft (2024)
• Green Grove Jeyam Nagar Annex-V: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Avenue Extn

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that 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 Bala Avenue Extn?

The Sub Registrar Office that covers Bala Avenue Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the transaction must be registered at the Sub Registrar Office, and the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bala Avenue Extn?

The current guideline value of Bala Avenue Extn is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bala Avenue Extn has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Bala Avenue Extn?

Bala Avenue Extn is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Bala Avenue Extn?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 45,000 in fees.

Which Sub Registrar Office covers the area of Bala Avenue Extn?

The Gooduvancheri Sub Registrar Office covers Bala Avenue Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.