Guideline Value for Balaji Avenue 1st Cross Street

Balaji Avenue 1st Cross Street guideline value

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

How the guideline value of Balaji Avenue 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, where the value dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,600 per sq.ft in the 2024 revision, which is a 7% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in guideline value is an increase of 7%. The increase from 2017 to 2023 was notable at 49%, reflecting a significant adjustment in the value over that time frame.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, which means that Balaji Avenue 1st Cross Street's 2024 figure is below that median.

• Balaji Avenue 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue Ext: Rs 1,600 per sq.ft (2024)
• Balaji Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the 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, resulting in a total of Rs 1,44,000. 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 Balaji Avenue 1st Cross Street?

The Sub Registrar Office that covers Balaji Avenue 1st Cross 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 Chembakkam

The guideline value is a critical component in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Balaji Avenue 1st Cross Street?

The current guideline value of Balaji Avenue 1st Cross 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 1,600 per sq.ft in 2024. It dropped to Rs 1,005 per sq.ft in 2017 before increasing again in subsequent revisions.

What is the land classification for Balaji Avenue 1st Cross Street?

Balaji Avenue 1st Cross Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Where is the Sub Registrar Office located for this street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.