Guideline Value for Balaji Street

Balaji Street guideline value

The current guideline value of Balaji Street in Kottur village, under the Adayar SRO, is Rs 6,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Balaji Street has changed

The guideline value for Balaji Street has undergone several revisions over the years. In 2002, the guideline value was Rs 301 per sq.ft, which increased to Rs 575 per sq.ft in 2003, marking a rise of 91%. The value continued to climb significantly, reaching Rs 2,500 per sq.ft in 2007, an increase of 335%. Following that, the value rose to Rs 5,500 per sq.ft in 2012, reflecting a 120% increase. However, it saw a decrease of 33% to Rs 3,685 per sq.ft in 2017. The value then increased again to Rs 5,500 per sq.ft in 2023, before reaching the current figure of Rs 6,100 per sq.ft in 2024, which represents an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1927%. There are no figures available for the revisions in the years not listed in the register for this street.

Guideline values in Kottur

In Kottur village, there are 114 streets under the Adayar SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value is Rs 6,100 per sq.ft, which is equal to the current value of Balaji Street.

• Bajanai Koil Street: Rs 6,100 per sq.ft (2024)
• Bharathi Avenue: Rs 5,000 per sq.ft (2024)
• Bharathi Avenue 1st Street: Rs 5,000 per sq.ft (2024)
• Bharathi Avenue 2nd Street: Rs 5,000 per sq.ft (2024)
• Avvai Colony: Rs 5,000 per sq.ft (2024)
• Canal Bank Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, making the total fees Rs 5,49,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Balaji Street?

The Sub Registrar Office covering Balaji Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Kottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Street?

The current guideline value of Balaji Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 301 per sq.ft to Rs 6,100 per sq.ft in 2024, representing a total increase of 1927% over the years.

What is the land classification of Balaji Street?

Balaji Street is classified as Residential Class III Type - I.

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

For a property valued at Rs 61,00,000, the stamp duty would be Rs 4,27,000 and the registration fee would be Rs 1,22,000, totaling Rs 5,49,000.

Where is the Sub Registrar Office for Balaji Street located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.