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Guideline Value

Corporate

Guideline Value for Balaji Street, Srinivasa Nagar

₹3850/sq.ft.

The guideline value for Balaji Street, Srinivasa Nagar 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 Street, Srinivasa Nagar

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Balaji Street, Srinivasa Nagar guideline value

The current guideline value of Balaji Street, Srinivasa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Madipakkam-1 village and is classified as Residential Class I Type - I within the Velacheri SRO.

How the guideline value of Balaji Street, Srinivasa Nagar has changed

The guideline value for Balaji Street has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in 2024, reflecting a change of +10%.

Prior to the 2023 revision, there were no recorded figures for Balaji Street in the earlier years mentioned. The 2024 figure of Rs 3,850 per sq.ft is the latest and indicates a significant increase from the previous year's value.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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, making Balaji Street's 2024 figure above that median.

Stamp duty and registration fee for property in Balaji Street, Srinivasa Nagar

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 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 information.

Which Sub Registrar Office covers Balaji Street, Srinivasa Nagar?

The Sub Registrar Office that covers Balaji Street, Srinivasa Nagar 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 additional assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish transparency in the transaction process. Buyers and sellers must consider this value to comply with legal requirements and avoid potential disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Balaji Street, Srinivasa Nagar?

The current guideline value of Balaji Street, Srinivasa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision, where the guideline value was Rs 3,500 per sq.ft, it has increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

What is the land classification for Balaji Street?

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

Where can I find the Sub Registrar Office for Balaji Street?

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

How is stamp duty calculated for properties on Balaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,850 per sq.ft, the total guideline value is Rs 38,50,000.