Guideline Value for Balaji Nagar 26th Street

Balaji Nagar 26th Street guideline value

The current guideline value of Balaji Nagar 26th 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 26th Street has changed

The guideline value for Balaji Nagar 26th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase of 10% from Rs 3,500 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 2,345 per sq.ft, marking a significant increase of 49% to the 2023 figure. It is important to note that there are no recorded figures for this street in the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline values reflects changes in the real estate landscape in the region.

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, with a median value of Rs 2,750 per sq.ft. The guideline value for Balaji Nagar 26th Street is above this median, indicating its relative positioning in the area.

• Balaji Nagar 25th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 27th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 24th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 28th 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 29th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 26th Street

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 charges to Rs 3,46,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 26th Street?

The Balaji Nagar 26th 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 benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official records. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar 26th Street?

The current guideline value of Balaji Nagar 26th Street 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, marking an overall increase of 64% during this period.

What is the land classification for Balaji Nagar 26th Street?

Balaji Nagar 26th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

How is the stamp duty calculated for properties in Balaji Nagar 26th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500.

Where can I find the Sub Registrar Office for Balaji Nagar 26th Street?

The Velacheri Sub Registrar Office covers Balaji Nagar 26th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.