Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 18th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 18th 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 18th Street

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Balaji Nagar Extn-2 18th Street guideline value

The current guideline value of Balaji Nagar Extn-2 18th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar Extn-2 18th Street has changed

The guideline value for Balaji Nagar Extn-2 18th Street has undergone several revisions over the years. The 2017 revision set the value at 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 further increased the value by 10%, bringing it to Rs 3,850 per sq.ft.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 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 area is Rs 2,750 per sq.ft, indicating that the 2024 figure for Balaji Nagar Extn-2 18th Street is above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 18th Street

For a property measuring 1,000 sq.ft 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, charged at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balaji Nagar Extn-2 18th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 18th 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 property transactions in Madipakkam-1. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn-2 18th Street?

The current guideline value of Balaji Nagar Extn-2 18th 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 increased 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 properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Balaji Nagar Extn-2 18th Street?

The Velacheri Sub Registrar Office handles property registrations for Balaji Nagar Extn-2 18th Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft. The guideline value for Balaji Nagar Extn-2 18th Street is above this median at Rs 3,850 per sq.ft as of 2024.