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Guideline Value

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Guideline Value for Balaji Nagar (Kuber Nagar Extn 13th Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 13th 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 13th Streets)

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Balaji Nagar (Kuber Nagar Extn 13th Streets) guideline value

The current guideline value for Balaji Nagar (Kuber Nagar Extn 13th 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, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar (Kuber Nagar Extn 13th Streets) has changed

The guideline value for Balaji Nagar (Kuber Nagar Extn 13th Streets) has seen significant changes 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. The latest revision in 2024 has further raised the value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year and an overall increase of 64% from 2017.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the guideline value over the years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, making the current value of Rs 3,850 per sq.ft for this street above the median.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 13th 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 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Nagar (Kuber Nagar Extn 13th Streets)?

The Sub Registrar Office that covers Balaji Nagar (Kuber Nagar Extn 13th 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 critical factor when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are applied. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Balaji Nagar (Kuber Nagar Extn 13th Streets)?

The current guideline value for Balaji Nagar (Kuber Nagar Extn 13th Streets) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking a total increase of 64% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is 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 in Balaji Nagar?

The Velacheri Sub Registrar Office handles property registrations in Balaji Nagar (Kuber Nagar Extn 13th Streets), located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Balaji Nagar (Kuber Nagar Extn 13th Streets)?

Balaji Nagar (Kuber Nagar Extn 13th Streets) is classified as Residential Class I Type - I.