Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Balaji Avenue has changed

The guideline value for Balaji Avenue has seen significant changes over the years. In the 2017 revision, the value was Rs 871 per sq.ft. This increased to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Balaji Avenue's 2024 figure above this median.

• Balaji Garden: Rs 880 per sq.ft (2024)
• Asirvadhapuram: Rs 880 per sq.ft (2024)
• Bharath Avenue: Rs 880 per sq.ft (2024)
• Bharath Avenue Phase I: Rs 880 per sq.ft (2024)
• Arunachaleswarar Nagar: Rs 880 per sq.ft (2024)
• Bharathi Nagar: Rs 880 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, while the registration fee at 2% would be Rs 28,600. Together, the total cost for these fees would be Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Avenue?

The Sub Registrar Office that covers Balaji Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Manimangalam A. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property transaction occurs, the guideline value is referenced to ensure that the appropriate fees are calculated based on the official rates set by the Registration Department. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Balaji Avenue has increased from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,430 per sq.ft in 2024.

What is the land classification for Balaji Avenue?

Balaji Avenue is classified as Residential Special Type - I.

Where can I find the registration office for Balaji Avenue?

The registration office for Balaji Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Balaji Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 14,30,000, resulting in a stamp duty of Rs 1,00,100.