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Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 1st 21st Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 1st 21st 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 21st Street

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Balaji Nagar Extn 1st 21st Street guideline value

The current guideline value of Balaji Nagar Extn 1st 21st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaji Nagar Extn 1st 21st Street has changed

The guideline value for Balaji Nagar Extn 1st 21st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which represents a 10% increase from the 2023 revision figure of Rs 3,500 per sq.ft. Prior to 2023, there are no figures available for this street in the register for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The changes reflect the most current valuation, while earlier years do not provide any figures for Balaji Nagar Extn 1st 21st Street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Balaji Nagar Extn 1st 21st Street's 2024 guideline value is above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn 1st 21st 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 fees together 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 also use our stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Balaji Nagar Extn 1st 21st Street?

The Sub Registrar Office that covers Balaji Nagar Extn 1st 21st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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. When a property is bought or sold, the guideline value is considered to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial obligations associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn 1st 21st Street?

The current guideline value of Balaji Nagar Extn 1st 21st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

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

What is the land classification for this street?

Balaji Nagar Extn 1st 21st Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Balaji Nagar Extn 1st 21st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies.