Guideline Value for Balaji Nagar East Main Road

Balaji Nagar East Main Road guideline value

The current guideline value of Balaji Nagar East Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Balaji Nagar East Main Road has changed

The guideline value for Balaji Nagar East Main Road has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2012 revision also recorded a guideline value of Rs 2,000 per sq.ft, indicating no change from 2012 to 2023. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This gradual increase reflects the adjustments made in the guideline values over the years, particularly from 2023 to 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Balaji Nagar East Main Road is below this median.

• Balaji Nagar 8th Street Malligai Iniya Illam: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 8th Street: 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)

Stamp duty and registration fee for property in Balaji Nagar East Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of 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 also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Balaji Nagar East Main Road?

The Sub Registrar Office covering Balaji Nagar East Main Road 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 is a crucial factor during the registration of property transactions in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

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

Frequently asked questions

What is the current guideline value of Balaji Nagar East Main Road?

The current guideline value of Balaji Nagar East Main Road 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 remained at Rs 2,000 per sq.ft from 2012 to 2023 and has increased to Rs 2,200 per sq.ft in 2024, marking a total increase of 10% from 2012 to 2024.

What are the other streets in Madambakkam with the same guideline value?

Several other streets in Madambakkam also have a guideline value of Rs 2,200 per sq.ft in 2024, including Balaji Nagar 8th Street, Balaji Nagar 8th Cross Street, Balaji Nagar 7th Street, and Balaji Nagar 6th Street.

What is the registration fee for properties in Balaji Nagar East Main Road?

The registration fee for properties is calculated based on the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000 at a rate of 2%.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.