Guideline Value for Balaji Avenue 3

Balaji Avenue 3 guideline value

The current guideline value of Balaji Avenue 3 is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Balaji Avenue 3 has changed

In the 2017 revision, the guideline value for Balaji Avenue 3 was Rs 1,675 per sq.ft. This figure remained unchanged in the revisions for 2002, 2003, 2007, 2012, and 2023, as the register has no figure for this street in those years. The most recent revision in 2024 saw an increase of 64%, bringing the guideline value to Rs 2,750 per sq.ft.

Thus, from 2017 to 2024, the guideline value has increased significantly, reflecting the current valuation trend in the area. The current figure of Rs 2,750 per sq.ft is now above the median guideline value of Rs 1,650 per sq.ft for Chitlapakkam streets in 2024.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The guideline value for Balaji Avenue 3 is above the median value for the area.

• Balaji Avenue 2: Rs 2,750 per sq.ft (2024)
• Balaji Avenue 1: Rs 2,750 per sq.ft (2024)
• Balaji Avenue Extn: Rs 1,650 per sq.ft (2024)
• Balaji Avenue Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Bakyalakshmi St: Rs 1,650 per sq.ft (2024)
• Bakyalakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue 3

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total costs Rs 2,47,500. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Avenue 3?

The Sub Registrar Office that covers Balaji Avenue 3 is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

When buying or selling property in Chitlapakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty payable. The guideline value is used as a basis for calculating these fees, ensuring that the transaction is recorded at an appropriate valuation.

It is important to note that the guideline value is updated periodically, reflecting changes in the real estate market. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to understand the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Avenue 3?

The current guideline value of Balaji Avenue 3 is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a 64% increase.

What is the land classification for Balaji Avenue 3?

Balaji Avenue 3 is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Balaji Avenue 3?

The Sub Registrar Office covering Balaji Avenue 3 is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Balaji Avenue 3?

Stamp duty for properties in Balaji Avenue 3 is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.