Guideline Value for Balaji Nagar 6th Cross Street

Balaji Nagar 6th Cross Street guideline value

The current guideline value of Balaji Nagar 6th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Balaji Nagar 6th Cross Street has changed

The guideline value for Balaji Nagar 6th Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft. Following that, the guideline value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,200 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 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 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value across these streets is Rs 2,400 per sq.ft, placing Balaji Nagar 6th Cross Street's 2024 figure below that median.

• Balaji Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balaji Nagar 6th Cross Street?

The Sub Registrar Office that covers Balaji Nagar 6th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite 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 in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

At the time of registration, the authorities will charge duty based on the higher value between the guideline value and the actual sale price. This ensures that the transaction is recorded accurately and in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar 6th Cross Street?

The current guideline value of Balaji Nagar 6th 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 changed several times, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

What was the guideline value in 2017?

In 2017, the guideline value for Balaji Nagar 6th Cross Street was Rs 1,340 per sq.ft. This was a decrease from the previous value of Rs 2,000 per sq.ft in 2012.

What is the land classification for Balaji Nagar 6th Cross Street?

Balaji Nagar 6th Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.