Guideline Value for BALA GARDEN EXTENSION

Bala Garden Extension guideline value

The current guideline value of Bala Garden Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Bala Garden Extension has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year's rate. The register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions highlight the stability of the value from 2012 to 2023, followed by a significant increase in 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing the current value of Bala Garden Extension below that median.

• Bala Garden: Rs 1,700 per sq.ft (2024)
• Bakthavatchalam Street: Rs 1,600 per sq.ft (2024)
• Bakiyalakshmi Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 6th Cross Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 5th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Garden Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Bala Garden Extension?

The Sub Registrar Office that covers Bala Garden Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is fairly assessed according to the established values.

Frequently asked questions

What is the current guideline value of Bala Garden Extension?

The current guideline value of Bala Garden Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,000 per sq.ft from 2012 to 2023, before increasing to Rs 2,200 per sq.ft in 2024, marking a 10% rise.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with Bala Garden at Rs 1,700 per sq.ft, Bakthavatchalam Street at Rs 1,600 per sq.ft, and several streets in Bakiyalakshmi Nagar at Rs 1,700 per sq.ft.

What fees are associated with property registration in Bala Garden Extension?

When registering a property in Bala Garden Extension, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.