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Guideline Value

Corporate

Guideline Value for Balaji Nagar (Kuber Nagar Extn 1st Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 1st 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 1st Streets)

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Balaji Nagar (Kuber Nagar Extn 1st Streets) guideline value

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

How the guideline value of Balaji Nagar (Kuber Nagar Extn 1st Streets) has changed

The guideline value for Balaji Nagar (Kuber Nagar Extn 1st Streets) has seen several revisions over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. 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 the 2017 revision to the 2024 revision, the guideline value has risen 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 value for these streets is Rs 2,750 per sq.ft, indicating that the guideline value for Balaji Nagar (Kuber Nagar Extn 1st Streets) is above this median.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 1st 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar (Kuber Nagar Extn 1st Streets)?

The Sub Registrar Office that covers Balaji Nagar (Kuber Nagar Extn 1st 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 plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value is used to determine the financial obligations involved in the transaction. This ensures that both buyers and sellers are aware of the costs associated with the registration of the property.

Frequently asked questions

What is the current guideline value for Balaji Nagar (Kuber Nagar Extn 1st Streets)?

The current guideline value for Balaji Nagar (Kuber Nagar Extn 1st 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 3,850 per sq.ft in 2024. This reflects a 64% increase over the period.

What is the stamp duty rate for property in this area?

The stamp duty rate for property transactions in Balaji Nagar (Kuber Nagar Extn 1st Streets) is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar?

The Sub Registrar Office for Balaji Nagar (Kuber Nagar Extn 1st Streets) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Balaji Nagar (Kuber Nagar Extn 1st Streets)?

The land classification for Balaji Nagar (Kuber Nagar Extn 1st Streets) is Residential Class I Type - I.