Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Balaji Avenue has changed

Over the years, the guideline value of Balaji Avenue has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft. This increased significantly to Rs 2,600 per sq.ft in the 2012 revision, marking a rise of 333%. However, the value dropped by 33% to Rs 1,742 per sq.ft in the 2017 revision. The subsequent 2023 revision increased the value to Rs 2,600 per sq.ft, and the latest 2024 revision has set it at Rs 2,860 per sq.ft, reflecting a 10% increase.

It is important to note that there are no figures available for Balaji Avenue in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 377%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Balaji Avenue's current value below this median.

• Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• A.V. Garden: Rs 2,970 per sq.ft (2024)
• Arumugam Nagar 1st Street: Rs 2,970 per sq.ft (2024)
• Arumugam Nagar: Rs 2,970 per sq.ft (2024)
• Brindavan Garden: Rs 2,970 per sq.ft (2024)
• Annai Velankanni Nagar Annexe: Rs 3,520 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 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total fees to Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed 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 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 Mogalivakkam

The guideline value is a crucial factor when registering property transactions in Mogalivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Balaji Avenue has seen significant changes, from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 377%.

What is the median guideline value in Mogalivakkam?

The median guideline value for streets in Mogalivakkam is Rs 2,970 per sq.ft for the year 2024.

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

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

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.