Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 11th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 11th 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-2 11th Street

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Balaji Nagar Extn-2 11th Street guideline value

The current guideline value of Balaji Nagar Extn-2 11th Street is Rs 3,850 per sq.ft. 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-2 11th Street has changed

The guideline value for Balaji Nagar Extn-2 11th Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, an increase of 10% from Rs 3,500 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 2,345 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the changes in guideline value are only reflected from the 2017, 2023, and 2024 revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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-2 11th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 11th 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 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 detailed calculations.

Which Sub Registrar Office covers Balaji Nagar Extn-2 11th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 11th 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 in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer is typically required to 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 in the area.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn-2 11th Street?

The current guideline value of Balaji Nagar Extn-2 11th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What is the land classification for Balaji Nagar Extn-2 11th Street?

Balaji Nagar Extn-2 11th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Velacheri Sub Registrar Office covers Balaji Nagar Extn-2 11th Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.