Guideline Value for Balaji Avenue Phase I & II

Balaji Avenue Phase I & II guideline value

The current guideline value for Balaji Avenue Phase I & II is Rs 350 per sq.ft. This property is located in Nattarasampattu village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Balaji Avenue Phase I & II has changed

The guideline value for Balaji Avenue Phase I & II has seen several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 234 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 50%, returning to Rs 350 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has remained at Rs 350 per sq.ft from 2012 to 2024, indicating stability in the valuation during this period.

Guideline values in Nattarasampattu

Nattarasampattu village has 24 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 250 to Rs 700 per sq.ft. The median value is Rs 350 per sq.ft, which is the same as the current guideline value for Balaji Avenue Phase I & II. Below are the guideline values for other streets in Nattarasampattu:

• Balaji Avenue: Rs 350 per sq.ft (2024)
• A.V.P. Nagar: Rs 350 per sq.ft (2024)
• Anantham Royal City Phase-I & II: Rs 350 per sq.ft (2024)
• Dalmia Nagar: Rs 350 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 250 per sq.ft (2024)
• Golden Rain Avenue: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue Phase I & II

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Avenue Phase I & II?

The Sub Registrar Office that covers Balaji Avenue Phase I & II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Nattarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the actual sale price must be compared with the guideline value. The higher of the two will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Balaji Avenue Phase I & II?

The current guideline value for Balaji Avenue Phase I & II is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2012, with a drop to Rs 234 per sq.ft in 2017 before returning to Rs 350 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Balaji Avenue Phase I & II?

Balaji Avenue Phase I & II is classified as Residential Special Type - I, indicating its designation for residential development.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Balaji Avenue Phase I & II is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Avenue Phase I & II?

The Gooduvancheri Sub Registrar Office is the designated office for Balaji Avenue Phase I & II, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.