Guideline Value for Bazaar Road Balaiah Garden

Bazaar Road Balaiah Garden guideline value

The current guideline value of Bazaar Road Balaiah Garden is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Bazaar Road Balaiah Garden has changed

The guideline value register for Bazaar Road Balaiah Garden does not have figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 5,500 per sq.ft.

Since there are no figures for previous revisions, it indicates that the guideline value has not changed over the years for this street. The current value reflects the latest assessment as of 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Bazaar Road Balaiah Garden is above this median.

• Bazaar Street (Velachery Main Road): Rs 5,500 per sq.ft (2024)
• Bazzar Road (Madipakkam Velachery Main Road): Rs 5,500 per sq.ft (2024)
• Bazzar Road, Sadasivam Nagar: Rs 5,500 per sq.ft (2024)
• Baroda Colony W.D. Krishnamoorthy Nagar: Rs 2,200 per sq.ft (2024)
• Baroda Colony, Sakthi Nagar Extn: Rs 2,200 per sq.ft (2024)
• Baroda Colony (Bank of Barodo Colony): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar Road Balaiah Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bazaar Road Balaiah Garden?

The Bazaar Road Balaiah Garden falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bazaar Road Balaiah Garden?

The current guideline value of Bazaar Road Balaiah Garden is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register does not have figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 5,500 per sq.ft.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for the area is Rs 2,750 per sq.ft, with Bazaar Road Balaiah Garden being above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Where can I find the Sub Registrar Office for Bazaar Road Balaiah Garden?

The Velacheri Sub Registrar Office covers Bazaar Road Balaiah Garden and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO online as well.