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Guideline Value

Corporate

Guideline Value for Balaji Nagar (Kuber Nagar Extn 11th Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 11th Streets) 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 Balaji Nagar (kuber Nagar Extn 11th Streets)

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Balaji Nagar (Kuber Nagar Extn 11th Streets) guideline value

The current guideline value for Balaji Nagar (Kuber Nagar Extn 11th Streets) is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar (Kuber Nagar Extn 11th Streets) has changed

The guideline value for Balaji Nagar (Kuber Nagar Extn 11th Streets) has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 2,345 per sq.ft. This value increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 shows a further increase to Rs 3,850 per sq.ft, which is a 10% rise 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 the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar (Kuber Nagar Extn 11th Streets) above this median.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 11th Streets)

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 together to Rs 3,46,500. It is important to note that the 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 Nagar (Kuber Nagar Extn 11th Streets)?

The Sub Registrar Office that covers Balaji Nagar (Kuber Nagar Extn 11th Streets) 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 Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the transaction.

When a property is registered, the applicable fees are determined based on the higher of the guideline value or the actual sale price. This ensures that the registration process reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value for Balaji Nagar (Kuber Nagar Extn 11th Streets)?

The current guideline value for Balaji Nagar (Kuber Nagar Extn 11th Streets) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, representing an overall increase of 64%.

What are the other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1 that share the same guideline value of Rs 3,850 per sq.ft include Balaji Nagar (Kuber Nagar Extn 10th Streets), Balaji Nagar (Kuber Nagar Extn 12th Streets), Balaji Nagar (Kuber Nagar Extn 13th Streets), Balaji Nagar II nd, and Balaji Nagar (Kuber Nagar Extn 14th Streets).

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Balaji Nagar (Kuber Nagar Extn 11th Streets)?

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