Guideline Value for SRI BALAJI AVENUE PART-III

Sri Balaji Avenue Part-III guideline value

The current guideline value of Sri Balaji Avenue Part-III is Rs 101 per sq.ft, effective from 1 July 2024. This street is located in Kavanipakkam village and falls under the Salavakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Balaji Avenue Part-III has changed

The guideline value for Sri Balaji Avenue Part-III has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 70 per sq.ft. This value increased to Rs 47 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase to Rs 100 per sq.ft, which is a rise of 113%. The most recent revision in 2024 set the guideline value at Rs 101 per sq.ft, reflecting a 1% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 44% from 2012 to 2024.

Guideline values in Kavanipakkam

In Kavanipakkam, there are four streets under the Salavakkam SRO with a 2024 guideline value ranging from Rs 101 to Rs 389 per sq.ft. The median value for these streets is Rs 102 per sq.ft, placing Sri Balaji Avenue Part-III below that median.

• Yellow Land Setters: Rs 389 per sq.ft (2024)
• Green City 1,2,3: Rs 101 per sq.ft (2024)
• A.R.Avenue: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Avenue Part-III

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees together to Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Balaji Avenue Part-III?

The Sub Registrar Office that covers Sri Balaji Avenue Part-III is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kavanipakkam. It serves as a basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

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

Frequently asked questions

What is the current guideline value of Sri Balaji Avenue Part-III?

The current guideline value of Sri Balaji Avenue Part-III is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 101 per sq.ft in 2024, marking an overall increase of 44%. The most notable changes occurred between 2017 and 2023, where it increased by 113%.

What are the guideline values for other streets in Kavanipakkam?

Other streets in Kavanipakkam have varying guideline values. For example, Yellow Land Setters has a guideline value of Rs 389 per sq.ft, while Green City 1,2,3 and A.R.Avenue are valued at Rs 101 and Rs 102 per sq.ft, respectively.

What fees are associated with buying property in Sri Balaji Avenue Part-III?

When buying property in Sri Balaji Avenue Part-III, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For instance, a 1,000 sq.ft plot would incur total fees of Rs 9,090.

Where can I find the Sub Registrar Office for Sri Balaji Avenue Part-III?

The Sub Registrar Office for Sri Balaji Avenue Part-III is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.