Guideline Value

Corporate

Guideline Value for Balaji Colony Main Road

₹3850/sq.ft.

The guideline value for Balaji Colony 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 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 Main Road

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Balaji Colony Main Road guideline value

The current guideline value of Balaji Colony Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Balaji Colony Main Road has changed

The guideline value for Balaji Colony Main Road has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 157%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Balaji Colony Main Road's 2024 figure below this median.

Stamp duty and registration fee for property in Balaji Colony 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 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, making the total fees together 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Colony Main Road?

The Sub Registrar Office that covers Balaji Colony 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 property transactions in Velachery, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the official valuation.

During the registration process, the buyer needs to pay stamp duty and registration fees 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 Main Road?

The current guideline value of Balaji Colony 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 changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What is the registration office for Balaji Colony Main Road?

The registration office for Balaji Colony Main Road 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 Balaji Colony Main Road?

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

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with a guideline value of Rs 3,850 per sq.ft include Balaji Colony 4th Street, Balaji Colony 4th Cross Street, Balaji Colony 3rd Street, Balaji Colony 3rd Cross Street, Balaji Colony 2nd Street, and Balaji Colony 2nd Cross Street.