Guideline Value for Balaji Avenue Layout

Balaji Avenue Layout guideline value

The current guideline value of Balaji Avenue Layout is Rs 2,800 per sq.ft, effective from 1 July 2024. This layout is located in Ullagaram village, under the Alandur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Balaji Avenue Layout has changed

The guideline value for Balaji Avenue Layout has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 239 per sq.ft. This figure saw an increase to Rs 268 per sq.ft in 2003, marking a change of +12%. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, which represented a substantial increase of +348%. In 2012, the guideline value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of -33% from the previous revision.

In 2017, the guideline value rose to Rs 1,675 per sq.ft, an increase of +49%. The most recent revisions show that in 2023, the value was Rs 2,500 per sq.ft, which then increased to Rs 2,800 per sq.ft in 2024, marking a change of +12%. Overall, from 2002 to 2024, the guideline value has increased by +1072%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is the same as the guideline value for Balaji Avenue Layout.

• Balaji Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue Layout

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Avenue Layout?

The Sub Registrar Office that covers Balaji Avenue Layout is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Ullagaram, the guideline value plays a crucial role in the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

The guideline value is set by the Registration Department and is periodically revised to reflect changes in the real estate market. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Balaji Avenue Layout?

The current guideline value of Balaji Avenue Layout is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 239 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of +1072%.

What is the land classification for Balaji Avenue Layout?

Balaji Avenue Layout is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,800 per sq.ft would incur a stamp duty of Rs 1,96,000.