Guideline Value for Bala Avenue

Bala Avenue guideline value

The current guideline value of Bala Avenue 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 has changed

The guideline value for Bala Avenue has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. Following this, the 2023 revision brought the value back to Rs 500 per sq.ft, which has been maintained in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 500 per sq.ft.

Guideline values in Kanchivakkam

Kanchivakkam village has 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 is Rs 500 per sq.ft, placing Bala Avenue's current guideline value at this median level.

• Bala Avenue Extn: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is calculated at 7%, resulting in Rs 35,000, while the registration fee is 2%, which amounts to Rs 10,000. Together, the total cost for stamp duty and registration fee is Rs 45,000. 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 further calculations.

Which Sub Registrar Office covers Bala Avenue?

The Sub Registrar Office that covers Bala Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the fees are calculated fairly based on the established rates. This process is essential for maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bala Avenue?

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

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 500 per sq.ft from 2012 to 2024, with a decrease to Rs 335 per sq.ft in 2017 before returning to Rs 500 per sq.ft in 2023.

What is the land classification of Bala Avenue?

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

Where can I find the registration office for Bala Avenue?

The registration office for Bala Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kanchivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.