Guideline Value

Corporate

Guideline Value for Balaji Nagar Extension 11th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extension 11th 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 Extension 11th Street

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Balaji Nagar Extension 11th Street guideline value

The current guideline value for Balaji Nagar Extension 11th 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 Extension 11th Street has changed

Over the years, the guideline value for Balaji Nagar Extension 11th Street has seen several revisions. The 2017 revision set the guideline value at Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Balaji Nagar Extension 11th Street is above this median.

Stamp duty and registration fee for property in Balaji Nagar Extension 11th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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 guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Extension 11th Street?

The Sub Registrar Office that covers Balaji Nagar Extension 11th Street is the Velacheri Sub Registrar Office, 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 during the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Balaji Nagar Extension 11th Street?

The current guideline value for Balaji Nagar Extension 11th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

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

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Balaji Nagar Extension 11th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Balaji Nagar Extension 11th Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 under the Velacheri SRO have a guideline value of Rs 3,850 per sq.ft for the 2024 revision, including Balaji Nagar Extension 10th, 12th, 13th, 14th, and 15th Streets.