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Guideline Value

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Guideline Value for Balaji Nagar (Kuber Nagar Extn 7th Streets)

₹3850/sq.ft.

The guideline value for Balaji Nagar (kuber Nagar Extn 7th 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 7th Streets)

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Balaji Nagar (Kuber Nagar Extn 7th Streets) guideline value

The current guideline value for Balaji Nagar (Kuber Nagar Extn 7th Streets) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar (Kuber Nagar Extn 7th Streets) has changed

The guideline value for Balaji Nagar (Kuber Nagar Extn 7th Streets) has undergone several revisions since 2017. In 2017, the guideline value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase further to 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 the register does not have 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, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, placing Balaji Nagar (Kuber Nagar Extn 7th Streets) above this median at Rs 3,850 per sq.ft.

Stamp duty and registration fee for property in Balaji Nagar (Kuber Nagar Extn 7th 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, making the total cost for these charges 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 7th Streets)?

The Sub Registrar Office that covers Balaji Nagar (Kuber Nagar Extn 7th 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 is a crucial factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Balaji Nagar (Kuber Nagar Extn 7th Streets)?

The current guideline value for Balaji Nagar (Kuber Nagar Extn 7th 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, which is an overall increase of 64%.

What is the land classification for Balaji Nagar (Kuber Nagar Extn 7th Streets)?

Balaji Nagar (Kuber Nagar Extn 7th Streets) is classified under Residential Class I Type - I.

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

For a property valued at 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. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Balaji Nagar (Kuber Nagar Extn 7th Streets)?

The Sub Registrar Office for Balaji Nagar (Kuber Nagar Extn 7th Streets) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.