Guideline Value for Balaji Nagar 21st Street

Balaji Nagar 21st Street guideline value

The current guideline value of Balaji Nagar 21st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar 21st Street has changed

The guideline value of Balaji Nagar 21st Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw the guideline value rise 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 there are no recorded 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 of Balaji Nagar 21st Street is above this median.

• Balaji Nagar 20th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 22nd Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 23rd Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 23rd Street, Balaji Nagar Extension, Otteri Salai, (S.No.29/1): Rs 3,850 per sq.ft (2024)
• Balaji Nagar 24th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 25th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 21st Street

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 cost 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 21st Street?

The Balaji Nagar 21st Street falls under 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 when registering property transactions in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the government. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar 21st Street?

The current guideline value of Balaji Nagar 21st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, 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 are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1, such as Balaji Nagar 20th Street, Balaji Nagar 22nd Street, Balaji Nagar 23rd Street, Balaji Nagar 23rd Street, Balaji Nagar Extension, Otteri Salai, Balaji Nagar 24th Street, and Balaji Nagar 25th Street, also share the same guideline value of Rs 3,850 per sq.ft in 2024.

What is the stamp duty for property in Balaji Nagar 21st Street?

The stamp duty for property in Balaji Nagar 21st Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, covering Balaji Nagar 21st Street.