Guideline Value for Balachandra Avenue 3rd Street

Balachandra Avenue 3rd Street guideline value

The current guideline value of Balachandra Avenue 3rd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Balachandra Avenue 3rd Street has changed

The guideline value for Balachandra Avenue 3rd Street has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw an increase to Rs 1,500 per sq.ft, and then a further rise to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 7%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Thus, the changes in guideline value are only reflected in the revisions from 2012, 2017, 2023, and 2024.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, which means that the 2024 guideline value for Balachandra Avenue 3rd Street is below this median.

• Balachandra Avenue 2nd Street: Rs 1,600 per sq.ft (2024)
• Balachandra Avenue 1st Street: Rs 1,600 per sq.ft (2024)
• Balachandra Avenue: Rs 1,600 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil 2nd Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil 2nd Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Balachandra Avenue 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total fees would be Rs 1,44,000. 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 Balachandra Avenue 3rd Street?

The Sub Registrar Office that covers Balachandra Avenue 3rd Street 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 Rajakilpakkam

The guideline value plays a crucial role in the registration process of property transactions in Rajakilpakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations involved in the property transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Balachandra Avenue 3rd Street?

The current guideline value of Balachandra Avenue 3rd Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Balachandra Avenue 3rd Street?

Balachandra Avenue 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registrations for this street?

The Selaiyur Sub Registrar Office handles property registrations for Balachandra Avenue 3rd Street, located in East Tambaram, Chennai.