Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 1,139 per sq.ft. This figure increased significantly to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, which is equal to the current guideline value of Balaji Avenue.

• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• BalajiNagar 2: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street Vannier pattu: Rs 1,540 per sq.ft (2024)
• Bajanai Koil Street Ragunathapuram: Rs 1,540 per sq.ft (2024)
• Balamurugan Nagar: Rs 2,200 per sq.ft (2024)
• Azeesh Nagar: Rs 1,850 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, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or 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 Mangadu -A

The guideline value plays a crucial role in the registration process of property transactions in Mangadu -A. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is fair and transparent.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Balaji Avenue?

Balaji Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000.