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Guideline Value

Corporate

Guideline Value for Balaji Nagar East 19th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar East 19th Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balaji Nagar East 19th Street

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Balaji Nagar East 19th Street guideline value

The current guideline value of Balaji Nagar East 19th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar East 19th Street has changed

Over the years, the guideline value for Balaji Nagar East 19th Street has seen significant revisions. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase from Rs 3,500 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 2,345 per sq.ft, reflecting a substantial increase of +49% to the 2023 figure. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

When considering the overall change from 2017 to 2024, the guideline value has risen by +64%. This consistent increase indicates a growing valuation for properties in this area over the years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry 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 East 19th Street's 2024 figure above the median.

Stamp duty and registration fee for property in Balaji Nagar East 19th Street

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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar East 19th Street?

The Balaji Nagar East 19th Street falls under the jurisdiction of the Velacheri Sub Registrar Office. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar East 19th Street?

The current guideline value of Balaji Nagar East 19th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall change of +64%.

What is the registration office for Balaji Nagar East 19th Street?

The registration office for Balaji Nagar East 19th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher value between the sale price and the guideline value is taken into account for calculating these fees.