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Guideline Value

Corporate

Guideline Value for Balaji Nagar East 6th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar East 6th 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 6th Street

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Balaji Nagar East 6th Street guideline value

The current guideline value of Balaji Nagar East 6th 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, and is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar East 6th Street has changed

The guideline value for Balaji Nagar East 6th Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 3,850 per sq.ft, reflecting a 10% change from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar East 6th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Balaji Nagar East 6th 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 fees together 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Nagar East 6th Street?

The Sub Registrar Office that covers Balaji Nagar East 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. These fees are based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Balaji Nagar East 6th Street?

The current guideline value of Balaji Nagar East 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Balaji Nagar East 6th Street?

Balaji Nagar East 6th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the guideline value of Rs 3,850 per sq.ft would incur a total fee of Rs 3,46,500.

Which office handles property registrations for Balaji Nagar East 6th Street?

The Velacheri Sub Registrar Office handles property registrations for Balaji Nagar East 6th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.