Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 1st 20th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 1st 20th 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 20th Street

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Balaji Nagar Extn 1st 20th Street guideline value

The current guideline value for Balaji Nagar Extn 1st 20th 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 Extn 1st 20th Street has changed

The guideline value for Balaji Nagar Extn 1st 20th Street has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the guideline value for this street was not available in the register. The increase from Rs 3,500 to Rs 3,850 reflects the current market conditions as of 2024.

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 in this village is Rs 2,750 per sq.ft, placing Balaji Nagar Extn 1st 20th Street's 2024 figure above that median.

Stamp duty and registration fee for property in Balaji Nagar Extn 1st 20th 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, while the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Balaji Nagar Extn 1st 20th Street?

The Sub Registrar Office that covers Balaji Nagar Extn 1st 20th 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 more information.

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

The guideline value is utilized during the registration of property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to consider the guideline value, as it can significantly affect the overall costs involved in the transaction. Buyers should ensure they are aware of the current guideline values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for Balaji Nagar Extn 1st 20th Street?

The current guideline value for Balaji Nagar Extn 1st 20th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft, which is a change of +10%.

What is the land classification for Balaji Nagar Extn 1st 20th Street?

Balaji Nagar Extn 1st 20th Street is classified as Residential Class I Type - I.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total charges would be Rs 3,46,500.