Guideline Value

Corporate

Guideline Value for Balaji Nagar II nd

₹3850/sq.ft.

The guideline value for Balaji Nagar Ii Nd 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 Ii Nd

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Balaji Nagar II nd guideline value

The current guideline value of Balaji Nagar II nd, located in Madipakkam-1 village under the Velacheri SRO, is Rs 3,850 per sq.ft as per the 2024 revision. This area is classified as Residential Class I Type - I.

How the guideline value of Balaji Nagar II nd has changed

The guideline value of Balaji Nagar II nd has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the previous years mentioned. The 2024 figure of Rs 3,850 per sq.ft is above the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Balaji Nagar II nd's 2024 figure of Rs 3,850 per sq.ft is above this median.

Stamp duty and registration fee for property in Balaji Nagar II nd

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, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaji Nagar II nd?

The Sub Registrar Office that covers Balaji Nagar II nd 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 when buying or selling property in Madipakkam-1, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions as per the regulations set by the Registration Department. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balaji Nagar II nd?

The current guideline value of Balaji Nagar II nd 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 changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Balaji Nagar II nd?

Balaji Nagar II nd is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Balaji Nagar II nd?

The stamp duty rate for property transactions in Balaji Nagar II nd is 7%, while the registration fee is 2%. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaji Nagar II nd?

The Sub Registrar Office covering Balaji Nagar II nd is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.