Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 25th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 25th 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 25th Street

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Balaji Nagar Extn-2 25th Street guideline value

The current guideline value of Balaji Nagar Extn-2 25th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaji Nagar Extn-2 25th Street has changed

The guideline value for Balaji Nagar Extn-2 25th Street has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent 2024 revision has set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The 2023 revision shows a significant increase of 49% from the 2017 figure, reflecting the changes in the guideline value over the years.

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 for these streets is Rs 2,750 per sq.ft, placing the 2024 figure for Balaji Nagar Extn-2 25th Street above the median.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 25th 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, totaling 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extn-2 25th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 25th 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 further assistance.

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

The guideline value plays a crucial role during property registration in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to comply with legal requirements.

When registering a property, the guideline value is assessed to calculate the necessary fees. This ensures that all transactions are conducted transparently and adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn-2 25th Street?

The current guideline value of Balaji Nagar Extn-2 25th 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 3,850 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification for this area?

The land classification for Balaji Nagar Extn-2 25th Street is Residential Class I Type - I.

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

The Velacheri Sub Registrar Office, which covers Balaji Nagar Extn-2 25th Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

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