Guideline Value for Balaiah Garden, Brindavan Street,

Balaiah Garden, Brindavan Street, guideline value

The current guideline value of Balaiah Garden, Brindavan Street, is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

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

The guideline value for Balaiah Garden, Brindavan Street, has seen significant changes over the years. In 2017, the guideline value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has set the value at Rs 3,850 per sq.ft, reflecting 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 there are no figures available in the register 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, where the median value is Rs 2,750 per sq.ft. Balaiah Garden, Brindavan Street, with a 2024 figure of Rs 3,850 per sq.ft, is above this median.

• Balaiah Garden / Bazaar Road: Rs 5,500 per sq.ft (2024)
• Balaiah Garden, Brindavan Street, Srinivasa Nagar: Rs 3,850 per sq.ft (2024)
• Balaiah Garden, Andal Street: Rs 3,850 per sq.ft (2024)
• Balaiah Garden, Raghavendra 1st Street: Rs 3,850 per sq.ft (2024)
• Balaiah Garden Thilagar Avenue 2nd Street: Rs 3,850 per sq.ft (2024)
• Balaiah Garden Thilagar Avenue 6th Cross Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling 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 our stamp duty and registration fee calculator for further calculations.

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

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 information.

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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is officially recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Balaiah Garden, Brindavan Street, is Rs 3,850 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 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, which is an overall increase of 64%.

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

Other streets in Madipakkam-1 include Balaiah Garden / Bazaar Road at Rs 5,500 per sq.ft, and several others at Rs 3,850 per sq.ft.

Where can I find the registration office for Balaiah Garden, Brindavan Street?

The registration office for Balaiah Garden, Brindavan Street, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Balaiah Garden, Brindavan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.