Guideline Value for Balaji Avenue 3rd Cross Street

Balaji Avenue 3rd Cross Street guideline value

The current guideline value of Balaji Avenue 3rd Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Avenue 3rd Cross Street has changed

The guideline value for Balaji Avenue 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. Following this, the 2023 revision increased the value significantly to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Between the revisions, the changes were notable. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 2,200 per sq.ft, indicating that Balaji Avenue 3rd Cross Street's 2024 figure is below this median.

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Avenue 3rd Cross Street?

The Sub Registrar Office that covers Balaji Avenue 3rd 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 crucial factor in property transactions in Chembakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the financial aspects of the transaction. Proper understanding of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value for Balaji Avenue 3rd Cross Street?

The current guideline value for Balaji Avenue 3rd 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 1,005 per sq.ft in 2017, then 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 Balaji Avenue 3rd Cross Street?

The land classification for Balaji Avenue 3rd Cross Street is Residential Class II Type - I.

Where is the Selaiyur Sub Registrar Office located?

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

How is stamp duty calculated for properties in Balaji Avenue 3rd Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.