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Guideline Value

Corporate

Guideline Value for Balaji Nagar (Kuber Nagar Extn 12th Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 12th 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 12th Streets)

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Balaji Nagar (Kuber Nagar Extn 12th Streets) guideline value

The current guideline value for Balaji Nagar (Kuber Nagar Extn 12th Streets) is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Balaji Nagar (Kuber Nagar Extn 12th Streets) has changed

The guideline value for Balaji Nagar (Kuber Nagar Extn 12th Streets) has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant increase of 49%. The latest revision in 2024 raised the guideline value to Rs 3,850 per sq.ft, reflecting a 10% increase 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 has no 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 this area is Rs 2,750 per sq.ft, making the current value for Balaji Nagar (Kuber Nagar Extn 12th Streets) above the median.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 12th Streets)

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, bringing the total fees together to 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.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Balaji Nagar (Kuber Nagar Extn 12th Streets)?

The Sub Registrar Office that covers Balaji Nagar (Kuber Nagar Extn 12th 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 information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value for Balaji Nagar (Kuber Nagar Extn 12th Streets)?

The current guideline value for Balaji Nagar (Kuber Nagar Extn 12th Streets) 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 increased from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This marks a total increase of 64% from 2017 to 2024.

What is the land classification for Balaji Nagar (Kuber Nagar Extn 12th Streets)?

The land classification for Balaji Nagar (Kuber Nagar Extn 12th Streets) is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Balaji Nagar (Kuber Nagar Extn 12th Streets)?

The registration office for Balaji Nagar (Kuber Nagar Extn 12th Streets) 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 Nagar (Kuber Nagar Extn 12th Streets)?

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 would be Rs 2,69,500 at 7%.