Guideline Value for SRI BALAJI AVENUE

Sri Balaji Avenue guideline value

The current guideline value of Sri Balaji Avenue is Rs 301 per sq.ft, effective from 1 July 2024. This street is located in Maele Manapakkam village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Sri Balaji Avenue has changed

The guideline value for Sri Balaji Avenue has undergone several revisions over the years. In 2007, the value was Rs 180 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. From 2017 to 2023, the value saw a significant rise of 49%, reaching Rs 300 per sq.ft in 2023. The latest revision in 2024 kept the value unchanged at Rs 301 per sq.ft.

The revisions for the years 2002 and 2003 do not have any figures recorded in the register for Sri Balaji Avenue. Overall, the guideline value has increased by 67% from Rs 180 per sq.ft in 2007 to Rs 301 per sq.ft in 2024.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft, with the median being Rs 301 per sq.ft. Sri Balaji Avenue's 2024 figure is equal to this median.

• Sri Arunachala City: Rs 301 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 301 per sq.ft (2024)
• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar Phase -I: Rs 300 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 301 per sq.ft, the total guideline value would be Rs 3,01,000. The stamp duty at 7% would amount to Rs 21,070, and the registration fee at 2% would be Rs 6,020, making the total fees Rs 27,090. 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 details.

Which Sub Registrar Office covers Sri Balaji Avenue?

Sri Balaji Avenue falls under the Chengleput Joint II Sub Registrar Office located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used to determine the minimum price at which a property can be registered in Maele Manapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value will be referenced to ascertain the applicable duties. The final price for registration will be based on the higher value between the guideline value and the sale price, which is crucial for both buyers and sellers to understand.

Frequently asked questions

What is the current guideline value of Sri Balaji Avenue?

The current guideline value of Sri Balaji Avenue is Rs 301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2007 to Rs 301 per sq.ft in 2024, marking an overall increase of 67%.

What are the other streets with guideline values in Maele Manapakkam?

Other streets in Maele Manapakkam include Sri Arunachala City, Sri Ganapathi Nagar, Sri Jayalakshmi Nagar, Sri Lakshmi Narayanagar Phase -II, Sri Lakshmi Narayana Nagar Phase -I, and Sri Ragavendra Nagar, with values ranging from Rs 200 to Rs 301 per sq.ft.

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

When buying property in Sri Balaji Avenue, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 27,090 based on the current guideline value.

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

The Chengleput Joint II Sub Registrar Office covers Sri Balaji Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO through the provided link.