Guideline Value for Balaji Nagar Extension 19th Street

Balaji Nagar Extension 19th Street guideline value

The current guideline value of Balaji Nagar Extension 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 Extension 19th Street has changed

The guideline value for Balaji Nagar Extension 19th Street has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 2,345 per sq.ft. In 2023, it increased to Rs 3,500 per sq.ft, marking a significant rise of 49% from the previous revision. The most recent revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, which is a 10% increase from 2023. 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 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar Extension 19th Street's 2024 figure above this median.

• Balaji Nagar Extension 18th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 1st Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 17th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 20th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 16th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 21th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extension 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 would be Rs 38,50,000. The stamp duty at 7% would amount to 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 use our stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office covering Balaji Nagar Extension 19th 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 further assistance.

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

The guideline value is crucial when registering a property in Madipakkam-1, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. 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 Extension 19th Street?

The current guideline value of Balaji Nagar Extension 19th 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 for Balaji Nagar Extension 19th Street?

Balaji Nagar Extension 19th Street is classified as Residential Class I Type - I.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1, such as Balaji Nagar Extension 18th Street, 1st Street, 17th Street, 20th Street, 16th Street, and 21th Street, all share the same guideline value of Rs 3,850 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Balaji Nagar Extension 19th Street?

The Velacheri Sub Registrar Office covers Balaji Nagar Extension 19th Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.