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Guideline Value

Corporate

Guideline Value for Balaiah Gardern, Srinivasa Nagar

₹3850/sq.ft.

The guideline value for Balaiah Gardern, 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 Gardern, Srinivasa Nagar

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Balaiah Gardern, Srinivasa Nagar guideline value

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

How the guideline value of Balaiah Gardern, Srinivasa Nagar has changed

The guideline value for Balaiah Gardern has seen significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, 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 the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that for the years 2002, 2003, 2007, and 2012, the register has no figure 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 value for these streets is Rs 2,750 per sq.ft, making the current value of Rs 3,850 per sq.ft for Balaiah Gardern above the median.

Stamp duty and registration fee for property in Balaiah Gardern, 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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaiah Gardern, Srinivasa Nagar?

The Sub Registrar Office that covers Balaiah Gardern, Srinivasa Nagar 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 critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers to understand the financial implications of the transaction. It is advisable to refer to the latest guideline values to ensure compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value for Balaiah Gardern, Srinivasa Nagar?

The current guideline value for Balaiah Gardern, Srinivasa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

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

What is the stamp duty rate for properties in Balaiah Gardern?

The stamp duty rate for properties in Balaiah Gardern is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registration in Balaiah Gardern?

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

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Balaiah Gardern's value of Rs 3,850 per sq.ft being above this median.