Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 35th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 35th 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 35th Street

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Balaji Nagar Extn-2 35th Street guideline value

The current guideline value of Balaji Nagar Extn-2 35th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in the 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 35th Street has changed

Looking at the revisions of the guideline value for Balaji Nagar Extn-2 35th Street, the most recent figure is Rs 3,850 per sq.ft from the 2024 revision. Prior to this, the 2023 revision set the guideline value at Rs 3,500 per sq.ft, which reflects a 10% increase. The 2017 revision recorded a value of Rs 2,345 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure. Overall, from 2017 to 2024, there has been a 64% increase in the guideline value.

It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the changes in guideline value are only reflected from 2017 onwards.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 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 the village is Rs 2,750 per sq.ft, placing Balaji Nagar Extn-2 35th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 35th 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 together 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 precise calculations.

Which Sub Registrar Office covers Balaji Nagar Extn-2 35th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 35th 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 crucial factor in the registration process 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, both the buyer and seller should be aware of the current guideline value to avoid any discrepancies during the registration process. This value helps in establishing a fair assessment of the property’s worth for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn-2 35th Street?

The current guideline value of Balaji Nagar Extn-2 35th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, rising from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft as of 2024.

What were the guideline values in previous years?

The guideline values for Balaji Nagar Extn-2 35th Street were Rs 2,345 per sq.ft in 2017, Rs 3,500 per sq.ft in 2023, and Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Balaji Nagar Extn-2 35th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar Extn-2 35th Street?

The Sub Registrar Office for Balaji Nagar Extn-2 35th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.