Guideline Value for Balaji Nagar Annex

Balaji Nagar Annex guideline value

The current guideline value of Balaji Nagar Annex is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar Annex has changed

The guideline value for Balaji Nagar Annex has seen several revisions over the years. In 2017, the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar Annex above the median value.

• Balaji Nagar Anex II nd Extn: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 10th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 11th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 12th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Annex

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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the 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 Annex?

The Velacheri Sub Registrar Office covers Balaji Nagar Annex. The office is 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 plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure compliance with the legal requirements. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar Annex?

The current guideline value of Balaji Nagar Annex is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, moving from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft.

What were the guideline values in the previous revisions?

The guideline values for Balaji Nagar Annex were Rs 2,345 per sq.ft in 2017, Rs 3,500 per sq.ft in 2023, and Rs 3,850 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

What is the registration fee for a property in Balaji Nagar Annex?

The registration fee for a property in Balaji Nagar Annex is 2% of the guideline value. For example, for a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Where can I find the Sub Registrar Office for Balaji Nagar Annex?

The Velacheri Sub Registrar Office covers Balaji Nagar Annex, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information online.