Guideline Value for Balu Avenue

Balu Avenue guideline value

The current guideline value of Balu Avenue is Rs 7,150 per sq.ft. It is located in Thiruvanmiyur village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balu Avenue has changed

The guideline value for Balu Avenue has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 6,500 per sq.ft, which increased to Rs 7,150 per sq.ft in the 2024 revision, reflecting a change of +10%.

As of the 2024 revision, the current guideline value stands at Rs 7,150 per sq.ft, marking a significant update from the previous year's value. This indicates a continued adjustment in property values within the area.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for the area is Rs 9,900 per sq.ft, positioning Balu Avenue's 2024 figure below this median.

• Banu Avenue: Rs 7,150 per sq.ft (2024)
• Balam Estate: Rs 7,150 per sq.ft (2024)
• Balakrishna Street: Rs 12,650 per sq.ft (2024)
• Beach Road: Rs 12,650 per sq.ft (2024)
• Beach Road Kuppam (Singaravelan Nagar): Rs 7,150 per sq.ft (2024)
• Besant Nagar 15th Cross Street: Rs 9,900 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 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balu Avenue?

The Sub Registrar Office that covers Balu Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees when registering property transactions.

When buying or selling property, the guideline value is used to calculate the applicable duties, ensuring that the transaction is compliant with local regulations. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Balu Avenue?

The current guideline value of Balu Avenue is Rs 7,150 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 6,500 per sq.ft in 2023 to Rs 7,150 per sq.ft in 2024, marking a change of +10%.

What is the land classification for Balu Avenue?

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

How is stamp duty calculated for properties in Balu Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty would amount to Rs 5,00,500 based on the current guideline value.

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

The Sub Registrar Office for Balu Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.