Guideline Value for Bala Sundaram Street

Bala Sundaram Street guideline value

The current guideline value of Bala Sundaram Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Bala Sundaram Street has changed

The guideline value for Bala Sundaram Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,005 per sq.ft. In 2023, it increased to Rs 1,500 per sq.ft, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Bala Sundaram Street's 2024 figure is below this median.

• B.A. Natarajan Street: Rs 2,750 per sq.ft (2024)
• Bank of Baroda Colony: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony Extn: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony Main Road: Rs 2,200 per sq.ft (2024)
• Bank of Baroda Colony, Sethupathy Nagar: Rs 2,200 per sq.ft (2024)
• Banu Ayya Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Sundaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bala Sundaram Street?

The Sub Registrar Office that covers Bala Sundaram Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property in Madipakkam-1. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that both parties are aware of the official valuation of the property, which helps in maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Bala Sundaram Street?

The current guideline value of Bala Sundaram Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Bala Sundaram Street?

The Velacheri Sub Registrar Office handles registrations for Bala Sundaram Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Bala Sundaram Street?

Bala Sundaram Street is classified as Residential Class II Type - II, indicating its use for residential purposes.