Guideline Value for Balaji Nagar 8th Street Malligai Iniya Illam

Balaji Nagar 8th Street Malligai Iniya Illam guideline value

The current guideline value of Balaji Nagar 8th Street Malligai Iniya Illam is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Balaji Nagar 8th Street Malligai Iniya Illam has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 2,000 per sq.ft, but in 2024, it increased by 10% to Rs 2,200 per sq.ft. Notably, there are no registered figures for this street in the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This change reflects the current valuation trends for properties in the area.

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 is Rs 2,400 per sq.ft, placing Balaji Nagar 8th Street's 2024 figure below this median.

• Balaji Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 8th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar East Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar 8th Street Malligai Iniya Illam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while 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 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 details.

Which Sub Registrar Office covers Balaji Nagar 8th Street Malligai Iniya Illam?

The Balaji Nagar 8th Street Malligai Iniya Illam falls under the Selaiyur Sub Registrar Office. The office is 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is considered to ensure that the appropriate fees are collected. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balaji Nagar 8th Street Malligai Iniya Illam?

The current guideline value of Balaji Nagar 8th Street Malligai Iniya Illam 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 remained at Rs 2,000 per sq.ft from the 2012 revision until the 2023 revision. In 2024, it increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Balaji Nagar 8th Street Malligai Iniya Illam?

The Selaiyur Sub Registrar Office handles registrations for Balaji Nagar 8th Street Malligai Iniya Illam, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Balaji Nagar 8th Street Malligai Iniya Illam?

The land classification for Balaji Nagar 8th Street Malligai Iniya Illam is Residential Special Type - I, indicating its intended use for residential purposes.