Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

Revisions for the years 2002, 2003, and 2007 have no figures recorded for Balaji Avenue. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Balaji Avenue.

• Balaji Street: Rs 1,650 per sq.ft (2024)
• Balakrishna nagar: Rs 1,980 per sq.ft (2024)
• Balakrishnan Street: Rs 1,650 per sq.ft (2024)
• Ballikuda 1st street: Rs 1,650 per sq.ft (2024)
• Ballikuda 2nd Street: Rs 1,650 per sq.ft (2024)
• Bangaru Kamatchi amman st: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor when registering property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in accordance with government regulations. Buyers and sellers should be aware of the current guideline value to prepare for the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

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, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Balaji Avenue?

Balaji Avenue is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Balaji Avenue?

The registration for Balaji Avenue is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.