Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 2nd 33rd Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 2nd 33rd 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 ₹2345 /sq.ft.
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 2nd 33rd Street

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Balaji Nagar Extn 2nd 33rd Street guideline value

The current guideline value for Balaji Nagar Extn 2nd 33rd 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 2nd 33rd Street has changed

In the 2017 revision, the guideline value for Balaji Nagar Extn 2nd 33rd Street was Rs 2,345 per sq.ft. This figure increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

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 the 2024 figure for Balaji Nagar Extn 2nd 33rd Street above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn 2nd 33rd 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, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Extn 2nd 33rd Street?

The Sub Registrar Office covering Balaji Nagar Extn 2nd 33rd 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 plays a crucial role in the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the appropriate taxes are levied based on the value of the property, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Balaji Nagar Extn 2nd 33rd Street?

The current guideline value for Balaji Nagar Extn 2nd 33rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64%.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 3,850 per sq.ft, similar to Balaji Nagar Extn 2nd 33rd Street, to various rates as listed for other streets.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for registering property transactions and ensuring that the correct stamp duty and registration fees are collected based on the guideline value.

How is stamp duty calculated for properties in Balaji Nagar Extn 2nd 33rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft property at the current guideline value incurs a stamp duty of Rs 2,69,500.