Guideline Value for Balaji Nagar East 20th Street

Balaji Nagar East 20th Street guideline value

The current guideline value of Balaji Nagar East 20th 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 20th Street has changed

The guideline value has undergone several revisions over the years. The earliest recorded revision for this street was in 2017, where the value was Rs 2,345 per sq.ft. In 2023, the value increased to Rs 3,500 per sq.ft, and in the latest revision for 2024, it further increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The substantial increase from 2017 to 2023 was 49%, reflecting significant changes in the guideline value 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 20th Street's 2024 value above that median.

• Balaji Nagar East 1st Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 21th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 19th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 22nd Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 18th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar East 23th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar East 20th 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar East 20th Street?

The Sub Registrar Office covering Balaji Nagar East 20th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Madipakkam-1, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are recorded accurately and in compliance with local regulations.

The guideline value serves as a reference point for both buyers and sellers, helping them understand the valuation of the property being transacted. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar East 20th Street?

The current guideline value of Balaji Nagar East 20th 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, representing an overall increase of 64%.

What is the classification of land in Balaji Nagar East 20th Street?

Balaji Nagar East 20th Street is classified as Residential Class I Type - I under the Velacheri SRO.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Where is the Sub Registrar Office for Balaji Nagar East 20th Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.