Guideline Value for Balachandra Avenue

Balachandra Avenue guideline value

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

How the guideline value of Balachandra Avenue has changed

Over the years, the guideline value of Balachandra Avenue has seen several revisions. The register shows that in 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

In terms of percentage changes, the value rose by 49% from 2017 to 2023. However, it had dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value of Balachandra Avenue is below this median.

• Balachandra Avenue 1st Street: Rs 1,600 per sq.ft (2024)
• Balachandra Avenue 2nd Street: Rs 1,600 per sq.ft (2024)
• Balachandra Avenue 3rd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balachandra Avenue?

The Sub Registrar Office that covers Balachandra 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 Rajakilpakkam

The guideline value is a crucial factor in property transactions in Rajakilpakkam, as it determines the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balachandra Avenue?

The current guideline value of Balachandra Avenue 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 increased 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 of Balachandra Avenue?

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

What are the registration fees for properties in Balachandra Avenue?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Balachandra Avenue?

The Selaiyur Sub Registrar Office covers Balachandra Avenue, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.