Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue is Rs 1,500 per sq.ft. This street is located in Melakottyur village, under the Gooduvancheri SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. However, in the 2017 revision, it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The most recent revision in 2023 has restored the value back to Rs 1,500 per sq.ft, representing an increase of 49% from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, there has been no change in the guideline value, remaining at Rs 1,500 per sq.ft. The register does not contain figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values available for other streets in Melakottyur. Balaji Avenue is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Balaji Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office that covers Balaji Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Melakottyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that they comply with local regulations.

When a property is sold, the guideline value helps to establish a fair price for registration purposes. It is essential for both parties to understand how the guideline value affects the overall costs associated with the transaction, including the fees that will be incurred during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 1,500 per sq.ft as per the 2023 revision.

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, and then back to Rs 1,500 per sq.ft in 2023. This represents a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

What is the land classification for Balaji Avenue?

Balaji Avenue is classified as Commercial Class I Type - I, which indicates its intended use for commercial activities.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Balaji Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,05,000.