Guideline Value for Balaji Avenue Ist Cross Street

Balaji Avenue Ist Cross Street guideline value

The current guideline value of Balaji Avenue Ist Cross Street is Rs 1,650 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 - III.

How the guideline value of Balaji Avenue Ist Cross Street has changed

The guideline value for Balaji Avenue Ist Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has increased the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Balaji Avenue Ist Cross Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the current value for Balaji Avenue Ist Cross Street.

• Balaji Avenue Extn: 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 Ist Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Avenue Ist Cross Street?

The Sub Registrar Office that covers Balaji Avenue Ist Cross Street 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

The guideline value is a critical factor in property transactions in Chitlapakkam, 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 these costs are based on the official valuation rather than personal agreements.

During registration, the buyer and seller must ensure that the sale price is equal to or greater than the guideline value to avoid any legal issues. This helps maintain transparency in property transactions and protects the interests of both parties involved.

Frequently asked questions

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

The current guideline value for Balaji Avenue Ist Cross Street 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 1,650 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

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

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 office handles registrations for Balaji Avenue Ist Cross Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Balaji Avenue Ist Cross Street, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Balaji Avenue Ist Cross Street?

Balaji Avenue Ist Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential development.