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Guideline Value

Corporate

Guideline Value for Balaji Nagar 5th Cross Street

₹3850/sq.ft.

The guideline value for Balaji Nagar 5th Cross 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 5th Cross Street

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Balaji Nagar 5th Cross Street guideline value

The current guideline value of Balaji Nagar 5th Cross 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaji Nagar 5th Cross Street has changed

The guideline value for Balaji Nagar 5th Cross Street has undergone several revisions over the years. In 2017, the value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 shows a further increase to Rs 3,850 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, and from 2023 to 2024, the guideline value rose by 10%. Overall, from 2017 to 2024, the increase amounts to 64%.

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 of Balaji Nagar 5th Cross Street is above this median.

Stamp duty and registration fee for property in Balaji Nagar 5th Cross 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, charged at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 details.

Which Sub Registrar Office covers Balaji Nagar 5th Cross Street?

The Sub Registrar Office that covers Balaji Nagar 5th Cross 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. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar 5th Cross Street?

The current guideline value of Balaji Nagar 5th Cross 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 3,500 per sq.ft in 2023, and now to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

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

Other streets in Madipakkam-1 that share the same guideline value of Rs 3,850 per sq.ft include Balaji Nagar 5th Street, Balaji Nagar 4th Street, Balaji Nagar 6th Cross Street, Balaji Nagar 4th Cross Street, Balaji Nagar 6th Street, and Balaji Nagar 41st Street.

What is the stamp duty for property transactions in Balaji Nagar 5th Cross Street?

The stamp duty for property transactions in Balaji Nagar 5th Cross Street is 7% of the guideline value or sale price, whichever is higher. For example, on 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 5th Cross Street located?

The Sub Registrar Office for Balaji Nagar 5th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.