Guideline Value for Balaji Nagar 8th Cross Street

Balaji Nagar 8th Cross Street guideline value

The current guideline value of Balaji Nagar 8th 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, with a land classification of Residential Special Type - I.

How the guideline value of Balaji Nagar 8th Cross Street has changed

Over the years, the guideline value of Balaji Nagar 8th Cross Street has seen several revisions. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,340 per sq.ft. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for Balaji Nagar 8th Cross Street. The changes between the revisions indicate a 49% increase from 2017 to 2023, while the overall change from 2012 to 2024 is a modest increase of 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 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, which means that the guideline value of Balaji Nagar 8th Cross Street is below the median.

• Balaji Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 8th Street Malligai Iniya Illam: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 8th 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 fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Balaji Nagar 8th Cross Street?

The Sub Registrar Office that covers Balaji Nagar 8th Cross Street is 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 in the registration process of property transactions in Madambakkam. 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 sales.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar 8th Cross Street?

The current guideline value of Balaji Nagar 8th 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 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 8th Cross Street?

Balaji Nagar 8th Cross Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

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

Which office handles the registration for Balaji Nagar 8th Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Balaji Nagar 8th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.