Guideline Value

Corporate

Guideline Value for Balaji Nagar Extn-2 7th Street

₹3850/sq.ft.

The guideline value for Balaji Nagar Extn-2 7th 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 N/A
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 7th Street

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Balaji Nagar Extn-2 7th Street guideline value

The current guideline value of Balaji Nagar Extn-2 7th 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, classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar Extn-2 7th Street has changed

The guideline value for Balaji Nagar Extn-2 7th Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,500 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline value was Rs 3,500 per sq.ft. This marked a change from the previous revisions, although specific figures for earlier years are not available in the register for this street. The consistent increase in guideline value reflects the adjustments made in the property registration framework.

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 in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Balaji Nagar Extn-2 7th Street above this median.

Stamp duty and registration fee for property in Balaji Nagar Extn-2 7th 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 cost to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaji Nagar Extn-2 7th Street?

The Sub Registrar Office that covers Balaji Nagar Extn-2 7th 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 is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any disputes related to property valuation at the time of registration.

Frequently asked questions

What is the current guideline value for Balaji Nagar Extn-2 7th Street?

The current guideline value for Balaji Nagar Extn-2 7th 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

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

Other streets in Madipakkam-1, such as 6th, 8th, 5th, 9th, 5th Cross, and 2nd 24th Street, also have a guideline value of Rs 3,850 per sq.ft as of 2024.

How is stamp duty calculated for properties in Balaji Nagar Extn-2 7th Street?

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

Where can I find the Sub Registrar Office for Balaji Nagar Extn-2 7th Street?

The Velacheri Sub Registrar Office covers Balaji Nagar Extn-2 7th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.