Guideline Value

Corporate

Guideline Value for Balaji Colony 1st Main Road

₹3850/sq.ft.

The guideline value for Balaji Colony 1st Main Road 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 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹201 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹179 /sq.ft.
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 Main Road

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Balaji Colony 1st Main Road guideline value

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

How the guideline value of Balaji Colony 1st Main Road has changed

The guideline value for Balaji Colony 1st Main Road has undergone several revisions over the years. Starting from the earliest revision in 2002, the guideline value was Rs 179 per sq.ft. This figure increased to Rs 201 per sq.ft in 2003, marking a change of +12%. The value saw a significant rise to Rs 1,500 per sq.ft in 2007, reflecting an increase of +646%. In 2012, the value adjusted to Rs 3,500 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 2,345 per sq.ft, which was an increase of +49% from 2012. The most recent revisions show a guideline value of Rs 3,500 per sq.ft in 2023, followed by an increase to Rs 3,850 per sq.ft in 2024, which is a change of +10%.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +2051%.

Guideline values in Velachery

The guideline values for various streets in Velachery show a range from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Balaji Colony 1st Main Road at Rs 3,850 per sq.ft is below this median.

Stamp duty and registration fee for property in Balaji Colony 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Colony 1st Main Road?

The Sub Registrar Office that covers Balaji Colony 1st Main Road 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 Velachery

The guideline value is an essential factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Colony 1st Main Road?

The current guideline value of Balaji Colony 1st Main Road 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 seen several revisions, with the most recent being an increase from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value for Balaji Colony 1st Main Road in 2017 was Rs 2,345 per sq.ft.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Balaji Colony 1st Main Road?

The Velacheri Sub Registrar Office handles property registrations for Balaji Colony 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.