Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue in Chembakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class II 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 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. From 2017 to 2023, there was a notable increase of 49%, bringing the value to Rs 1,500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,600 per sq.ft, marking a 7% rise.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 256%, reflecting the changes over the years.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that Balaji Avenue's 2024 figure is below that median.

• Balaji Avenue 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue Ext: Rs 1,600 per sq.ft (2024)
• Bakiyam Nagar Ext: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office that covers Balaji Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the stamp duty. This ensures that the registration process is transparent and fair.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 256% over the years.

What are the stamp duty rates for property in Balaji Avenue?

The stamp duty for property in Balaji Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Selaiyur Sub Registrar Office covers Balaji Avenue and is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is higher than the current guideline value of Balaji Avenue.