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Guideline Value

Corporate

Guideline Value for Balaji Nagar (Kuber Nagar Extn 4th Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 4th 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 4th Streets)

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Balaji Nagar (Kuber Nagar Extn 4th Streets) guideline value

The current guideline value of Balaji Nagar (Kuber Nagar Extn 4th 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 4th Streets) has changed

The guideline value for Balaji Nagar (Kuber Nagar Extn 4th Streets) has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which was a significant increase from the previous revisions, as there are no figures available for the years 2002, 2003, 2007, and 2012. By 2023, the guideline value rose to Rs 3,500 per sq.ft, reflecting a 49% increase from 2017. The latest revision in 2024 has seen the value rise to Rs 3,850 per sq.ft, marking a 10% increase from 2023 and an overall increase of 64% from 2017.

In summary, the guideline value has steadily increased over the years, with the most recent 2024 revision establishing it at Rs 3,850 per sq.ft. The changes between the revisions highlight a significant upward trend in the guideline value 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, placing Balaji Nagar (Kuber Nagar Extn 4th Streets) above this median with its 2024 figure of Rs 3,850 per sq.ft.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 4th 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 for these fees 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar (Kuber Nagar Extn 4th Streets)?

The Sub Registrar Office covering Balaji Nagar (Kuber Nagar Extn 4th 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 during the registration of property transactions in Madipakkam-1. It serves as a baseline for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps to provide transparency in the transaction process. It ensures that both buyers and sellers are aware of the expected costs associated with registration, which can help in making informed decisions.

Frequently asked questions

What is the current guideline value of Balaji Nagar (Kuber Nagar Extn 4th Streets)?

The current guideline value of Balaji Nagar (Kuber Nagar Extn 4th 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, reflecting an overall increase of 64% over this period.

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

Other streets in Madipakkam-1, such as Balaji Nagar (Kuber Nagar Extn 1st, 2nd, 3rd, 5th, 6th, and 7th Streets), also have a guideline value of Rs 3,850 per sq.ft for 2024.

What is the stamp duty rate for property transactions in Balaji Nagar?

The stamp duty rate for property transactions in Balaji Nagar 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 4th Streets) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.