Guideline Value for Balaji Avenue

Balaji Avenue guideline value

The current guideline value of Balaji Avenue, located in Panapakkam village under the Padappai SRO, is Rs 770 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is 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. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then further rose to the current value of Rs 770 per sq.ft in 2024. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a substantial increase of 49% from 2017 to 2023. The current value of Rs 770 per sq.ft represents a 10% increase from the previous year, 2023.

Guideline values in Panapakkam

In Panapakkam village, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft, with the median being Rs 770 per sq.ft. Balaji Avenue's 2024 guideline value aligns perfectly with this median.

• Balaji Nagar Extension: Rs 770 per sq.ft (2024)
• Balaji Nagar Part I: Rs 770 per sq.ft (2024)
• Blue Bird City Phase II: Rs 770 per sq.ft (2024)
• Annai Anandha Layout: Rs 770 per sq.ft (2024)
• Dharanirajapuram: Rs 770 per sq.ft (2024)
• Easwari Nagar: Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It's important to note that the duty is charged on the higher of the guideline value or the sale price. 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 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 Panapakkam

The guideline value plays a crucial role in property transactions in Panapakkam, as it is used to determine the stamp duty and registration fees. When a property is bought or sold, the guideline value is considered to ensure that the fees are calculated accurately based on the established rates.

During registration, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded at a value that reflects the local market conditions as determined by the registration department.

Frequently asked questions

What is the current guideline value of Balaji Avenue?

The current guideline value of Balaji Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 in 2023, and finally to Rs 770 in 2024.

What is the land classification for Balaji Avenue?

Balaji Avenue is classified as Residential Class I Type - I.

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

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

How is stamp duty calculated for properties in Balaji Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 7,70,000 would incur a stamp duty of Rs 53,900 at a rate of 7%.