Guideline Value for Balaji Nagar Extension

Balaji Nagar Extension guideline value

The current guideline value of Balaji Nagar Extension, located in Madipakkam-1 village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar Extension has changed

The guideline value for Balaji Nagar Extension has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2023, marking a change of 49%. The most recent revision in 2024 set the 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 for the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have 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 is above this median.

• Balaji Nagar Extension 10th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 11th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 12th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 13th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 14th Street: Rs 3,850 per sq.ft (2024)
• Balaji Nagar Extension 15th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extension

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, making the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extension?

The Sub Registrar Office that covers Balaji Nagar Extension 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with 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 Extension?

The current guideline value of Balaji Nagar Extension 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, which is an overall increase of 64% over the years.

What are the stamp duty and registration fees for properties in Balaji Nagar Extension?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Which Sub Registrar Office handles registrations for Balaji Nagar Extension?

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

Where can I find more information about guideline values in Madipakkam-1?

More information about guideline values in Madipakkam-1 can be found in the registration department's guideline value register, which details the values for various streets in the area.