Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Chikkarayapuram village under the Kunrathur SRO, classified as Residential 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. The 2012 revision recorded a value of Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 1,072 per sq.ft. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023 and then rose again to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, there are no recorded figures for Balaji Avenue in the revisions from 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase, despite the fluctuations experienced in the intervening years.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 2,800 per sq.ft, with a median value of Rs 1,980 per sq.ft. Balaji Avenue's 2024 figure is below this median.

• Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Bakyam Nagar: Rs 1,760 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,980 per sq.ft (2024)
• Babu Garden Phase II&III: Rs 1,980 per sq.ft (2024)
• Balasubramanian Nagar: Rs 1,870 per sq.ft (2024)
• Anu Garden: Rs 1,980 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 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office that covers Balaji Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Chikkarayapuram. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What are the other streets in Chikkarayapuram with their guideline values?

Other streets in Chikkarayapuram include Balaji Nagar at Rs 1,980 per sq.ft, Bakyam Nagar at Rs 1,760 per sq.ft, and several others, with values ranging from Rs 1,430 to Rs 2,800 per sq.ft.

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 Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000, leading to a stamp duty of Rs 1,23,200.

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

The Kunrathur Sub Registrar Office covers Balaji Avenue and is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information online.