Guideline Value

Corporate

Guideline Value for Balaji Colony 1st Cross Street

₹3850/sq.ft.

The guideline value for Balaji Colony 1st Cross Street in Velachery 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 Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
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 ₹3500 /sq.ft.
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 Balaji Colony 1st Cross Street

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Balaji Colony 1st Cross Street guideline value

The current guideline value of Balaji Colony 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Balaji Colony 1st Cross Street has changed

The guideline value for Balaji Colony 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. In 2023, the value increased to Rs 3,500 per sq.ft, and as of the latest 2024 revision, it stands at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Balaji Colony 1st Cross Street's 2024 figure below that median.

Stamp duty and registration fee for property in Balaji Colony 1st Cross Street

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 cost to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Colony 1st Cross Street?

The Sub Registrar Office that covers Balaji Colony 1st Cross 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 Velachery

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps determine the minimum amount on which the stamp duty is calculated. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Colony 1st Cross Street?

The current guideline value of Balaji Colony 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the 2012 figure at Rs 3,500 per sq.ft, dropping to Rs 2,345 per sq.ft in 2017, and then rising to Rs 3,500 per sq.ft in 2023, before reaching Rs 3,850 per sq.ft in 2024.

What is the land classification of Balaji Colony 1st Cross Street?

Balaji Colony 1st Cross Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty rates applicable in Velachery?

The stamp duty rate in Velachery is 7%, while the registration fee is 2%. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Colony 1st Cross Street?

The Sub Registrar Office for Balaji Colony 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.