Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue in Nandhivaram village is Rs 1,500 per sq.ft, effective from 1 July 2024. This property falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has undergone several revisions over the years. In 2002, the guideline value was Rs 87 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a significant rise of 277%. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2012, resulting in a 357% jump. However, between 2012 and 2017, it decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value remained stable at Rs 1,500 per sq.ft from 2017 through the 2023 revision, and it continues to hold the same rate in the 2024 revision, showing no change from the previous year.

It is important to note that there is no figure available for Balaji Avenue in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 1624%, highlighting the fluctuations over the years.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current value for Balaji Avenue.

• Balaji Avenue Extn.: Rs 1,500 per sq.ft (2024)
• Balaji Nagar: Rs 1,500 per sq.ft (2024)
• Bajanaikovil Street: Rs 1,200 per sq.ft (2024)
• Balasubramaniyam Nagar: Rs 1,500 per sq.ft (2024)
• Bagavathi Nagar: Rs 1,200 per sq.ft (2024)
• Bharath Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total 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, making the total fees Rs 1,35,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, 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, Nandhivaram, 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 Nandhivaram

The guideline value is an essential factor in property transactions in Nandhivaram. It determines the minimum value for which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transaction process.

When purchasing or selling property, the guideline value serves as a benchmark for the transaction price. It is crucial to be aware of the current guideline value to avoid discrepancies during registration at the Sub Registrar Office.

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, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 87 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2012, then remaining stable at Rs 1,500 from 2017 to 2024.

What is the land classification for Balaji Avenue?

Balaji Avenue is classified as Residential Special Type - I under the local regulations.

What is the registration office for Balaji Avenue?

The Gooduvancheri Sub Registrar Office covers Balaji Avenue, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri - 603202.

How is stamp duty calculated for properties in Nandhivaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 15,00,000 would incur a stamp duty of Rs 1,05,000 at 7%.