Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 27th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 27th 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 27th Street

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Balaji Nagar Extn-2 27th Street guideline value

The current guideline value of Balaji Nagar Extn-2 27th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Balaji Nagar Extn-2 27th Street has changed

Over the years, the guideline value of Balaji Nagar Extn-2 27th Street has seen significant changes. The earliest recorded revision was in 2017, where the guideline value was Rs 2,345 per sq.ft. This figure increased to Rs 3,500 per sq.ft in the 2023 revision, marking a substantial rise of 49%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

In total, from the 2017 revision to the 2024 revision, there has been an overall increase of 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this particular street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO that carry a guideline value for 2024, 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, positioning Balaji Nagar Extn-2 27th Street above this median with its current value of Rs 3,850 per sq.ft.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 27th Street

For a plot 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 at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. The total amount for stamp duty and registration would thus be 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 further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extn-2 27th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 27th 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 is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn-2 27th Street?

The current guideline value of Balaji Nagar Extn-2 27th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1, such as Balaji Nagar Extn-2 26th Street, 28th Street, 25th Street, 29th Street, 24th Street, and 2th Street, also have a guideline value of Rs 3,850 per sq.ft in 2024.

What is the registration fee for properties in Balaji Nagar Extn-2 27th Street?

The registration fee for properties in Balaji Nagar Extn-2 27th Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Which office handles the registration for Balaji Nagar Extn-2 27th Street?

The Velacheri Sub Registrar Office handles the registration for Balaji Nagar Extn-2 27th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.