Guideline Value for Balaji Avenue Extn

Balaji Avenue Extn guideline value

The current guideline value of Balaji Avenue Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balaji Avenue Extn has changed

The guideline value for Balaji Avenue Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later revised to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,650 per sq.ft.

Examining the changes between these revisions reveals a 33% decrease from 2012 to 2017, followed by a significant 49% increase from 2017 to 2023. The guideline value then saw a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets in 2024 is Rs 1,650 per sq.ft, which is the same as the guideline value for Balaji Avenue Extn.

• Balaji Avenue Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Balaji Avenue 3: Rs 2,750 per sq.ft (2024)
• Balaji Avenue 2: Rs 2,750 per sq.ft (2024)
• Balaji Avenue 1: Rs 2,750 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 Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the 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 Extn?

The Sub Registrar Office that covers Balaji Avenue Extn is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value is often referenced to ensure that the transaction is compliant with local regulations. Buyers and sellers should be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Avenue Extn?

The current guideline value of Balaji Avenue Extn is Rs 1,650 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 set at Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Balaji Avenue Extn?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office is responsible for Balaji Avenue Extn?

The Tambaram Joint 1 Sub Registrar Office is responsible for Balaji Avenue Extn, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Balaji Avenue Extn?

Balaji Avenue Extn is classified as Residential Class I Type - III, indicating its designation for residential use within the locality.