Guideline Value for Balaji Nagar 33rd Street

Balaji Nagar 33rd Street guideline value

The current guideline value of Balaji Nagar 33rd 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 33rd Street has changed

The guideline value for Balaji Nagar 33rd Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at 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 figures available for the revisions in 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 value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar 33rd Street's 2024 figure above this median.

• Balaji Nagar 32nd Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 31th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 34th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 35th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 30th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 36th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 33rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar 33rd Street?

The Sub Registrar Office that covers Balaji Nagar 33rd Street 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 property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process.

When registering a property, the guideline value serves as a benchmark to assess the value of the property being sold. This ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the established guideline value.

Frequently asked questions

What is the current guideline value of Balaji Nagar 33rd Street?

The current guideline value of Balaji Nagar 33rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over the seven years.

What is the land classification for Balaji Nagar 33rd Street?

Balaji Nagar 33rd Street is classified as Residential Class I Type - I, indicating its use for residential purposes.

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.

How is the stamp duty calculated for properties in Balaji Nagar 33rd Street?

Stamp duty for properties in Balaji Nagar 33rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.