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Guideline Value

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Guideline Value for Balaji Nagar (Kuber Nagar Extn 15th Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 15th 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 15th Streets)

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Balaji Nagar (Kuber Nagar Extn 15th Streets) guideline value

The current guideline value for Balaji Nagar (Kuber Nagar Extn 15th Streets) is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar (Kuber Nagar Extn 15th Streets) has changed

Since the 2017 revision, the guideline value for Balaji Nagar (Kuber Nagar Extn 15th Streets) has seen significant changes. In 2017, the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that for the years 2002, 2003, 2007, and 2012, the register has no figure for this street. This means that the changes in guideline value have been documented only from 2017 onwards.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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 for these streets is Rs 2,750 per sq.ft, indicating that Balaji Nagar (Kuber Nagar Extn 15th Streets) is above this median.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 15th 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, while 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 duty is charged on the higher of the guideline value or 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 15th Streets)?

The Sub Registrar Office that covers Balaji Nagar (Kuber Nagar Extn 15th Streets) is the Velacheri Sub Registrar Office. The address is 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 plays a crucial role in property transactions in Madipakkam-1. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value serves as a reference point for buyers and sellers to understand the value of properties in the area. It helps in making informed decisions during the buying or selling process, ensuring transparency in real estate transactions.

Frequently asked questions

What is the current guideline value for Balaji Nagar (Kuber Nagar Extn 15th Streets)?

The current guideline value for Balaji Nagar (Kuber Nagar Extn 15th 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, marking an overall increase of 64%.

What is the stamp duty rate applicable in Chennai?

The stamp duty rate applicable in Chennai is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Balaji Nagar (Kuber Nagar Extn 15th Streets)?

The Velacheri Sub Registrar Office handles registrations for Balaji Nagar (Kuber Nagar Extn 15th Streets), located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that must be paid. It serves as a reference for buyers and sellers to understand property values in the area, ensuring transparency in real estate transactions.