Guideline Value

Corporate

Guideline Value for Balaji Nagar 41st Street

₹3850/sq.ft.

The guideline value for Balaji Nagar 41st Street 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 41st Street

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Balaji Nagar 41st Street guideline value

The current guideline value of Balaji Nagar 41st 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 41st Street has changed

The guideline value for Balaji Nagar 41st Street has seen significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

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 in this area is Rs 2,750 per sq.ft, positioning Balaji Nagar 41st Street above this median.

Stamp duty and registration fee for property in Balaji Nagar 41st Street

For a 1,000 sq.ft plot at the current guideline value 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 higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Nagar 41st Street?

The Sub Registrar Office covering Balaji Nagar 41st 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 information.

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, as it determines the minimum price at which a property can be registered. It is used to calculate the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value serves as a reference point for both buyers and sellers, ensuring that the transaction is conducted at a legally recognized value. This helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Balaji Nagar 41st Street?

The current guideline value of Balaji Nagar 41st 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%. The value also rose from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

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

Other streets in Madipakkam-1, such as Balaji Nagar 40th Street Cross, Balaji Nagar 40th Street, Balaji Nagar 3rd Street, Balaji Nagar 4th Cross Street, Balaji Nagar 4th Street, and Balaji Nagar 3rd Cross Street, all have a guideline value of Rs 3,850 per sq.ft for 2024.

What is the stamp duty for property in Balaji Nagar 41st Street?

The stamp duty for property in Balaji Nagar 41st Street is calculated at 7% of the guideline value. For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

Where is the Sub Registrar Office for Balaji Nagar 41st Street located?

The Sub Registrar Office for Balaji Nagar 41st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.