Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 1st 18th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 1st 18th 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 N/A
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 Extn 1st 18th Street

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Balaji Nagar Extn 1st 18th Street guideline value

The current guideline value for Balaji Nagar Extn 1st 18th 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 Extn 1st 18th Street has changed

The guideline value for Balaji Nagar Extn 1st 18th Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,500 per sq.ft, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

This change reflects the latest update in the guideline value register. The 2024 figure is now higher than the previous revision, indicating a notable adjustment in the valuation of properties in this area.

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 value is Rs 2,750 per sq.ft, placing Balaji Nagar Extn 1st 18th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn 1st 18th 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 duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balaji Nagar Extn 1st 18th Street?

The Sub Registrar Office that covers Balaji Nagar Extn 1st 18th 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 plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When a buyer or seller is involved in a transaction, the guideline value serves as a benchmark for the property’s valuation, impacting the overall costs associated with the transfer of ownership.

Frequently asked questions

What is the current guideline value for Balaji Nagar Extn 1st 18th Street?

The current guideline value for Balaji Nagar Extn 1st 18th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the classification of Balaji Nagar Extn 1st 18th Street?

Balaji Nagar Extn 1st 18th Street is classified as Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Balaji Nagar Extn 1st 18th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Madipakkam-1?

The guideline value is determined based on various factors and is updated periodically by the Registration Department. It serves as a reference for calculating stamp duty and registration fees during property transactions.