Guideline Value for Sri Balaji Nagar/Kubera Nagar 10th Street

Sri Balaji Nagar/Kubera Nagar 10th Street guideline value

The current guideline value for Sri Balaji Nagar/Kubera Nagar 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Balaji Nagar/Kubera Nagar 10th Street has changed

The guideline value for Sri Balaji Nagar/Kubera Nagar 10th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 3,500 per sq.ft. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the only two revisions with figures for this street are from 2023 and 2024, showing a clear upward adjustment in the guideline value. The absence of figures in the previous years indicates that there was no recorded guideline value for Sri Balaji Nagar/Kubera Nagar 10th Street during those revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, and the median value is Rs 2,750 per sq.ft. The guideline value for Sri Balaji Nagar/Kubera Nagar 10th Street is above this median.

• Sri Balaji Nagar/Kubera Nagar Extension 10th Street: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar: Rs 3,850 per sq.ft (2024)
• Sri Arulmurugan Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sridharan Street: Rs 2,750 per sq.ft (2024)
• S.P.R. Nagar, Emarald Street: Rs 2,200 per sq.ft (2024)
• SPR Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Balaji Nagar/Kubera Nagar 10th Street

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 to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating fees.

Which Sub Registrar Office covers Sri Balaji Nagar/Kubera Nagar 10th Street?

The Sri Balaji Nagar/Kubera Nagar 10th Street falls under 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 Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties are aware of the legal and financial implications of the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Sri Balaji Nagar/Kubera Nagar 10th Street?

The current guideline value for Sri Balaji Nagar/Kubera Nagar 10th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value for this street increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% rise.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Sri Balaji Nagar/Kubera Nagar 10th Street's value being above this median.

What fees are associated with buying property in Sri Balaji Nagar/Kubera Nagar 10th Street?

When purchasing property, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office, which covers Sri Balaji Nagar/Kubera Nagar 10th Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.