Guideline Value for Sri Balaji Avenue (II & III)

Sri Balaji Avenue (II & III) guideline value

The current guideline value of Sri Balaji Avenue (II & III) is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Neelamangalam village under the Gooduvancheri SRO, classified as Residential Class IV Type - II.

How the guideline value of Sri Balaji Avenue (II & III) has changed

The guideline value for Sri Balaji Avenue (II & III) has seen several revisions since 2007. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it dropped to Rs 402 per sq.ft in 2017, before rising again to Rs 600 per sq.ft in both 2023 and 2024, reflecting a 49% increase from 2017 to 2023 and no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 380%. The 2024 figure of Rs 600 per sq.ft aligns with the median value for the 41 streets in Neelamangalam under the Gooduvancheri SRO, which ranges from Rs 400 to Rs 2,000 per sq.ft.

Guideline values in Neelamangalam

In Neelamangalam, the guideline values for various streets vary, with the median set at Rs 600 per sq.ft. This places Sri Balaji Avenue (II & III) at the median value for the area.

• Sri Ganapathi Nagar Colony: Rs 500 per sq.ft (2024)
• Soundarapandian Nagar Extn: Rs 500 per sq.ft (2024)
• Sri Iyyanar Nagar: Rs 500 per sq.ft (2024)
• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)
• Sri Muppathamman Nagar: Rs 600 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Avenue (II & III)

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. 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 details.

Which Sub Registrar Office covers Sri Balaji Avenue (II & III)?

The Sub Registrar Office that covers Sri Balaji Avenue (II & III) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Neelamangalam. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to determine the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the sale. This transparency helps facilitate a smoother transaction process.

Frequently asked questions

What is the current guideline value of Sri Balaji Avenue (II & III)?

The current guideline value of Sri Balaji Avenue (II & III) is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and has remained at Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Neelamangalam?

The median guideline value for the 41 streets in Neelamangalam under the Gooduvancheri SRO is Rs 600 per sq.ft, which is also the current value for Sri Balaji Avenue (II & III).

What are the stamp duty and registration fees for property in Sri Balaji Avenue (II & III)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Which office handles the registration for Sri Balaji Avenue (II & III)?

The registration for Sri Balaji Avenue (II & III) is handled by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.