Guideline Value for Balaji Nagar Extension 9th Street

Balaji Nagar Extension 9th Street guideline value

The current guideline value of Balaji Nagar Extension 9th Street is Rs 3,850 per sq.ft. 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 9th Street has changed

The guideline value for Balaji Nagar Extension 9th Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has risen by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The significant changes between the revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with the 2024 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, which indicates that the 2024 guideline value for Balaji Nagar Extension 9th Street is above this median.

• Balaji Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension II: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 7th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension II 35th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 6th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension III: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extension 9th 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Balaji Nagar Extension 9th Street?

The Sub Registrar Office covering Balaji Nagar Extension 9th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extension 9th Street?

The current guideline value of Balaji Nagar Extension 9th 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 increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Balaji Nagar Extension 9th Street?

Balaji Nagar Extension 9th Street is classified as Residential Class I Type - I, which is a designation for residential properties in this area.

Where can I find the registration office for Balaji Nagar Extension 9th Street?

The registration office for Balaji Nagar Extension 9th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What factors determine the stamp duty and registration fees?

The stamp duty and registration fees are determined based on the guideline value or the sale price of the property, whichever is higher. This ensures that the fees reflect the true value of the property being transacted.