Guideline Value for Balaji Nagar Extn

Balaji Nagar Extn guideline value

The current guideline value of Balaji Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Balaji Nagar Extn has changed

The guideline value for Balaji Nagar Extn has undergone several revisions over the years. In the 2007 revision, the value was Rs 245 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a rise of 390%. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 1,200 per sq.ft, which is equal to the current rate for Balaji Nagar Extn.

• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Barkavi Avenue: Rs 1,200 per sq.ft (2024)
• Bharath Avenue: Rs 1,200 per sq.ft (2024)
• Baby Nagar: Rs 1,200 per sq.ft (2024)
• Babu Avenue: Rs 1,300 per sq.ft (2024)
• A.V.N. Street - A.V.N.Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balaji Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar Extn?

The Sub Registrar Office that covers Balaji Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value plays a crucial role during property registration in Madambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the guideline value to ensure they are compliant with the regulations set by the Registration Department.

When a property is registered, the guideline value is considered to establish the minimum value for taxation purposes. This means that even if the sale price of the property is lower than the guideline value, the stamp duty will be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Balaji Nagar Extn?

The current guideline value of Balaji Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 1,200 per sq.ft in 2023 and 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing significant fluctuations over the years.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 1,200 per sq.ft, which is the same as the current rate for Balaji Nagar Extn.

What are the stamp duty and registration fees for a property in Balaji Nagar Extn?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.