Guideline Value for Bala Garden

Bala Garden guideline value

The current guideline value of Bala Garden, located in Madambakkam village under the Selaiyur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Bala Garden has changed

The guideline value for Bala Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the latest revision in 2024 has increased the guideline value to Rs 1,700 per sq.ft, reflecting a significant rise of 59% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a marginal increase of 6% in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Bala Garden's 2024 figure below that median.

• Bala Garden Extension: Rs 2,200 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty charged at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. 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?

The Sub Registrar Office that covers Bala Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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 property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is advisable for both buyers and sellers to familiarize themselves with the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bala Garden?

The current guideline value of Bala Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, and then increased to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current value of Bala Garden.

What are the stamp duty and registration fees for a property in Bala Garden?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Bala Garden 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.