Guideline Value for Balaiya Garden 10th Street

Balaiya Garden 10th Street guideline value

The current guideline value of Balaiya Garden 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Balaiya Garden 10th Street has changed

The guideline value for Balaiya Garden 10th Street has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,010 per sq.ft. This value increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision shows a further increase to Rs 3,300 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

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, placing Balaiya Garden 10th Street's 2024 figure above this median.

• Balaiya Garden: Rs 3,850 per sq.ft (2024)
• Balaiya Garden 1st Street: Rs 3,300 per sq.ft (2024)
• Balaiah Nagar,Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• Balaiya Garden 2nd Street: Rs 3,300 per sq.ft (2024)
• Balaiya Nagar Extn: Rs 1,650 per sq.ft (2024)
• Balaiya Garden 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balaiya Garden 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balaiya Garden 10th Street?

The Sub Registrar Office covering Balaiya Garden 10th 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 during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the Registration Department. This helps maintain transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Balaiya Garden 10th Street?

The current guideline value of Balaiya Garden 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Balaiya Garden 10th Street?

The Velacheri Sub Registrar Office is responsible for property registrations in Balaiya Garden 10th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded at an appropriate value as assessed by the Registration Department.