Guideline Value for Balaji Nagar 8th Street

Balaji Nagar 8th Street guideline value

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

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

The guideline value for Balaji Nagar 8th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. After this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, indicating that Balaji Nagar 8th Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Balaji Nagar 8th 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, making the total fees 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 use our stamp duty and registration fee calculator for precise calculations based on your property transaction.

Which Sub Registrar Office covers Balaji Nagar 8th Street?

The Sub Registrar Office that covers Balaji Nagar 8th 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 information.

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

The guideline value plays a crucial role in property transactions in Madambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Balaji Nagar 8th 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Balaji Nagar 8th Street?

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 registration for Balaji Nagar 8th Street?

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

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, indicating that Balaji Nagar 8th Street's current guideline value is below this median.