Guideline Value for Balu Avenue

Balu Avenue guideline value

The current guideline value of Balu Avenue in Chitlapakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Balu Avenue has changed

The guideline value for Balu Avenue has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft. This value decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it up to Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Balu Avenue. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Balu Avenue's 2024 figure of Rs 2,750 per sq.ft is above this median.

• Balavinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Banu Avenue: Rs 1,650 per sq.ft (2024)
• Barath Avenue: Rs 2,750 per sq.ft (2024)
• Barath Avenue I: Rs 2,750 per sq.ft (2024)
• Beeshmar Street: Rs 1,650 per sq.ft (2024)
• Bharathan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would amount to Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balu Avenue?

Balu Avenue is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balu Avenue?

The current guideline value of Balu Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Balu Avenue?

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

What are the stamp duty and registration fees for properties in Balu Avenue?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500 in fees.

Which office handles registrations for Balu Avenue?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Balu Avenue, located at No.26, mes Road, East Tambaram, Chennai-600059.