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Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 1st 22nd Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 1st 22nd 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 22nd Street

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Balaji Nagar Extn 1st 22nd Street guideline value

The current guideline value of Balaji Nagar Extn 1st 22nd 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 22nd Street has changed

The guideline value for Balaji Nagar Extn 1st 22nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,500 per sq.ft. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded figure was Rs 3,500 per sq.ft in 2023. This value reflects the changes made in the guideline values over time, demonstrating a significant increase in the most recent revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets that carry 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 of Balaji Nagar Extn 1st 22nd Street is above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn 1st 22nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Extn 1st 22nd Street?

The Sub Registrar Office that covers Balaji Nagar Extn 1st 22nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is essential during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount 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 Extn 1st 22nd Street?

The current guideline value of Balaji Nagar Extn 1st 22nd 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would be Rs 3,46,500. This includes a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000.

Which office handles the registration for Balaji Nagar Extn 1st 22nd Street?

The Velacheri Sub Registrar Office handles the registration for Balaji Nagar Extn 1st 22nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for this street?

Balaji Nagar Extn 1st 22nd Street is classified as Residential Class I Type - I, indicating its designation for residential use.