Guideline Value

Corporate

Guideline Value for Balakrishna Nagar 1st Main Road

₹3850/sq.ft.

The guideline value for Balakrishna Nagar 1st Main Road in Velachery 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 Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
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 ₹3500 /sq.ft.
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 Balakrishna Nagar 1st Main Road

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Balakrishna Nagar 1st Main Road guideline value

The current guideline value of Balakrishna Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Balakrishna Nagar 1st Main Road has changed

Over the years, the guideline value of Balakrishna Nagar 1st Main Road has seen several revisions. The earliest recorded figure in the register is from 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it rose to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Balakrishna Nagar 1st Main Road is below this median.

Stamp duty and registration fee for property in Balakrishna Nagar 1st Main Road

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. 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 detailed calculations.

Which Sub Registrar Office covers Balakrishna Nagar 1st Main Road?

The Sub Registrar Office that covers Balakrishna Nagar 1st Main Road 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. This value helps in calculating the applicable stamp duty and registration fees during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar 1st Main Road?

The current guideline value of Balakrishna Nagar 1st Main Road 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 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Balakrishna Nagar 1st Main Road?

Balakrishna Nagar 1st Main Road is classified as Residential Class II Type - III.

Where can I find the registration office for Balakrishna Nagar 1st Main Road?

The registration office for Balakrishna Nagar 1st Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Balakrishna Nagar 1st Main Road?

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