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Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn 2nd 36th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn 2nd 36th 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 36th Street

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Balaji Nagar Extn 2nd 36th Street guideline value

The current guideline value for Balaji Nagar Extn 2nd 36th Street is Rs 3,850 per sq.ft. 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 2nd 36th Street has changed

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value rise to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

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

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, positioning Balaji Nagar Extn 2nd 36th Street above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn 2nd 36th 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, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extn 2nd 36th Street?

The Sub Registrar Office that covers Balaji Nagar Extn 2nd 36th 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 here.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value ensures transparency and helps in assessing the fair value of properties in the area.

Frequently asked questions

What is the current guideline value for Balaji Nagar Extn 2nd 36th Street?

The current guideline value for Balaji Nagar Extn 2nd 36th 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 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Which Sub Registrar Office is responsible for Balaji Nagar Extn 2nd 36th Street?

The Velacheri Sub Registrar Office is responsible for Balaji Nagar Extn 2nd 36th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees. It ensures transparency in property transactions and helps assess the fair value of properties in the area.