Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 34th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 34th 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 34th Street

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Balaji Nagar Extn-2 34th Street guideline value

The current guideline value for Balaji Nagar Extn-2 34th Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaji Nagar Extn-2 34th Street has changed

The guideline value for Balaji Nagar Extn-2 34th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase of 10% from the 2023 revision of Rs 3,500 per sq.ft. Prior to that, in 2017, the value was Rs 2,345 per sq.ft, marking a significant increase of 49% to the 2023 figure. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. This consistent rise reflects changes in the local property landscape, with the current rate being the highest recorded for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Balaji Nagar Extn-2 34th Street's current value above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 34th 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, bringing the total 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 use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Balaji Nagar Extn-2 34th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 34th 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 more information.

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. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction process.

When purchasing property, it is essential to consider the guideline value as it ensures compliance with local regulations. The registration process will require that the property is valued at or above the guideline value, thus influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn-2 34th Street?

The current guideline value of Balaji Nagar Extn-2 34th Street is Rs 3,850 per sq.ft as per the 2024 revision.

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, marking an overall increase of 64%.

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

Other streets in Madipakkam-1 that share the same guideline value of Rs 3,850 per sq.ft include Balaji Nagar Extn-2 33th Street, 35th Street, 32th Street, 36th Street, 31th Street, and 37th Street.

What is the stamp duty for a property in Balaji Nagar Extn-2 34th Street?

The stamp duty for a property valued at Rs 38,50,000 would be Rs 2,69,500, which is 7% of the guideline value.

Which office handles registrations for properties in Balaji Nagar Extn-2 34th Street?

The Velacheri Sub Registrar Office handles registrations for properties in Balaji Nagar Extn-2 34th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.