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Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 2nd 35th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 2nd 35th 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 35th Street

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Balaji Nagar Extn 2nd 35th Street guideline value

The current guideline value of Balaji Nagar Extn 2nd 35th 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 35th Street has changed

The guideline value for Balaji Nagar Extn 2nd 35th Street has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest 2024 revision set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figure for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar Extn 2nd 35th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn 2nd 35th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extn 2nd 35th Street?

The Sub Registrar Office covering Balaji Nagar Extn 2nd 35th 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 details.

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 when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for legal purposes.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 2nd 35th Street?

The current guideline value of Balaji Nagar Extn 2nd 35th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, 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 other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1 with the same guideline value of Rs 3,850 per sq.ft include Balaji Nagar Extn 2nd 34th Street, Balaji Nagar Extn 2nd 36th Street, Balaji Nagar Extn 2nd 33rd Street, Balaji Nagar Extn 2nd 37th Street, Balaji Nagar Extn 2nd 32nd Street, and Balaji Nagar Extn, Kubera Nagar Extn.

What is the stamp duty rate for properties in Balaji Nagar Extn 2nd 35th Street?

The stamp duty rate for properties in Balaji Nagar Extn 2nd 35th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar Extn 2nd 35th Street?

The Sub Registrar Office for Balaji Nagar Extn 2nd 35th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.