Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,190 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Balaji Avenue has changed

The guideline value of Balaji Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,900 per sq.ft in 2012, marking a rise of 625%. However, it then decreased to Rs 1,943 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 2,900 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,190 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Balaji Avenue. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 698%.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value for these streets is Rs 3,520 per sq.ft, placing Balaji Avenue's current value below the median.

• Bajanai Koil Street (West): Rs 3,190 per sq.ft (2024)
• Bajanai Koil Street (East): Rs 3,190 per sq.ft (2024)
• Bajanai Koil Mettu colony: Rs 3,190 per sq.ft (2024)
• Bajanai Koil Grama Natham: Rs 3,520 per sq.ft (2024)
• Bajanai Koil Bangalow Street: Rs 3,190 per sq.ft (2024)
• Balraj Nagar: Rs 3,190 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 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, while the registration fee at 2% would be Rs 63,800, bringing the total cost to Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value and 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madanandapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a buyer and seller agree on a sale price, the higher of the guideline value or the sale price is used to calculate the applicable duties and fees. This ensures that the registration process is compliant with the local regulations.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, reflecting an overall increase of 698% over the years.

What is the median guideline value in Madanandapuram?

The median guideline value in Madanandapuram for 2024 is Rs 3,520 per sq.ft, which is higher than the current value of Balaji Avenue.

What are the stamp duty and registration fees for property in Balaji Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 31,90,000, with stamp duty at Rs 2,23,300 and registration fee at Rs 63,800, totaling Rs 2,87,100.

Which office handles property registrations in Kunrathur?

The Kunrathur Sub Registrar Office handles property registrations in Kunrathur, located at No.59, Road Street, Kundrathur, Chennai -600 069.