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Guideline Value

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Guideline Value for Balaiah Garden, Brindavan Street,Srinivasa Nagar,

₹3850/sq.ft.

The guideline value for Balaiah Garden, Brindavan Street,srinivasa Nagar, in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balaiah Garden, Brindavan Street,srinivasa Nagar,

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Balaiah Garden, Brindavan Street,Srinivasa Nagar, guideline value

The current guideline value for Balaiah Garden, Brindavan Street, Srinivasa Nagar, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Madipakkam-1 village and is classified as Residential Class I Type - I, governed by the Velacheri SRO.

How the guideline value of Balaiah Garden, Brindavan Street,Srinivasa Nagar, has changed

The guideline value for Balaiah Garden, Brindavan Street, has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. This was followed by a significant increase in the 2023 revision, where the value rose to Rs 3,500 per sq.ft, marking a 49% increase. The latest revision in 2024 further increased the value to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 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 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making the current value for Balaiah Garden, Brindavan Street, above the median.

Stamp duty and registration fee for property in Balaiah Garden, Brindavan Street,Srinivasa Nagar,

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty, calculated at 7%, is Rs 2,69,500, while the registration fee at 2% is Rs 77,000. The total cost for these fees together is Rs 3,46,500. 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 information.

Which Sub Registrar Office covers Balaiah Garden, Brindavan Street,Srinivasa Nagar,?

The Sub Registrar Office that covers Balaiah Garden, Brindavan 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal purposes. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Balaiah Garden, Brindavan Street?

The current guideline value for Balaiah Garden, Brindavan Street, is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, rising from Rs 2,345 per sq.ft to the current Rs 3,850 per sq.ft in 2024.

What is the stamp duty for property in Balaiah Garden, Brindavan Street?

The stamp duty for property in Balaiah Garden, Brindavan Street, is calculated at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in this area?

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

What are the other streets in Madipakkam-1 with similar guideline values?

Other streets in Madipakkam-1 with similar guideline values include Balaiah Garden, Raghavendra 1st Street, Balaiah Garden Thilagar Avenue 2nd Street, and Balaiah Garden, Andal Street, all at Rs 3,850 per sq.ft in 2024.