Guideline Value for Balaji Nagar 4th Cross Street

Balaji Nagar 4th Cross Street guideline value

The current guideline value of Balaji Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Balaji Nagar 4th Cross Street has changed

The guideline value for Balaji Nagar 4th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the guideline value increased to Rs 2,000 per sq.ft, and the latest revision in 2024 set it at Rs 2,200 per sq.ft.

Between the revisions, the value changed as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Balaji Nagar 4th Cross Street's 2024 figure below that median.

• Balaji Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar 4th Cross Street?

The Balaji Nagar 4th Cross Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a crucial factor during the registration of properties in Madambakkam. It serves as a benchmark for determining the minimum value of a property for transaction purposes, ensuring that the property is registered at a value that reflects its market standing.

When buying or selling a property, the guideline value is used to calculate applicable fees, such as stamp duty and registration fees. This ensures transparency and fairness in property transactions, as both buyers and sellers are aware of the minimum value set by the authorities.

Frequently asked questions

What is the current guideline value of Balaji Nagar 4th Cross Street?

The current guideline value of Balaji Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Balaji Nagar 4th Cross Street?

The land classification for Balaji Nagar 4th Cross Street is Residential Special Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000.

Which registration office covers Balaji Nagar 4th Cross Street?

Balaji Nagar 4th Cross Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.