Guideline Value for Thiru Balaji Avenue

Thiru Balaji Avenue guideline value

The current guideline value of Thiru Balaji Avenue is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Erivakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thiru Balaji Avenue has changed

Over the years, the guideline value of Thiru Balaji Avenue has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 40 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 650% increase. However, it then decreased to Rs 201 per sq.ft in 2017, which was a 33% drop. The guideline value remained at Rs 300 per sq.ft from 2017 until the 2024 revision.

In the latest revision for 2024, the guideline value is Rs 300 per sq.ft, showing no change from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 650%.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO with a guideline value for 2024 ranging from Rs 200 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 400 per sq.ft, making Thiru Balaji Avenue's value below the median.

• Thirumala Nagar: Rs 400 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 300 per sq.ft (2024)
• Saroja Nagar Phase-I: Rs 250 per sq.ft (2024)
• Sai Lakshmi Township: Rs 500 per sq.ft (2024)
• Purushothaman Nagar: Rs 200 per sq.ft (2024)
• Priyadharshini Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiru Balaji Avenue?

The Sub Registrar Office that covers Thiru Balaji Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Erivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registry.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiru Balaji Avenue?

The current guideline value of Thiru Balaji Avenue is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and remained at Rs 300 per sq.ft from 2017 to 2024.

What is the median guideline value in Erivakkam?

The median guideline value in Erivakkam is Rs 400 per sq.ft, while Thiru Balaji Avenue's current value is below this median.

What fees are involved when buying property in Thiru Balaji Avenue?

When buying property in Thiru Balaji Avenue, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration of properties in Thiru Balaji Avenue?

The Gooduvancheri Sub Registrar Office handles the registration of properties in Thiru Balaji Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.