Guideline Value for Balaji Nagar Extension 25th Street

Balaji Nagar Extension 25th Street guideline value

The current guideline value of Balaji Nagar Extension 25th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar Extension 25th Street has changed

The guideline value for Balaji Nagar Extension 25th Street has seen several revisions over the years. The oldest recorded figure is from 2017, where the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at 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 recorded figures for Balaji Nagar Extension 25th Street in the revisions from 2002, 2003, 2007, and 2012.

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 guideline value in this area is Rs 2,750 per sq.ft, making the current value of Balaji Nagar Extension 25th Street above the median.

• Balaji Nagar Extension 24th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 26th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 23rd Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 27th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 22nd Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 28th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extension 25th 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 cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Balaji Nagar Extension 25th Street?

The Sub Registrar Office that covers Balaji Nagar Extension 25th 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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the guideline value helps ensure that the transaction is registered at a value that reflects the current market conditions, thus protecting both the buyer and seller. The fees are calculated based on this value, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension 25th Street?

The current guideline value of Balaji Nagar Extension 25th 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, marking a total increase of 64% over the seven-year period.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Balaji Nagar Extension 25th Street's current value being above this median.

What are the stamp duty and registration fees for a property in Balaji Nagar Extension 25th Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Balaji Nagar Extension 25th Street?

The Velacheri Sub Registrar Office handles property registrations for Balaji Nagar Extension 25th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.