Guideline Value for Srinivasa Nagar Balaji Street

Srinivasa Nagar Balaji Street guideline value

The current guideline value of Srinivasa Nagar Balaji 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 Srinivasa Nagar Balaji Street has changed

According to the register, there are no figures for the years 2002, 2003, 2007, 2012, and 2017 for Srinivasa Nagar Balaji Street. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% rise.

The 2024 figure of Rs 3,850 per sq.ft represents the latest update for this street, reflecting its current valuation in the real estate market.

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 is Rs 2,750 per sq.ft, placing Srinivasa Nagar Balaji Street's 2024 figure above this median.

• Srinivasa Nagar, Balaiah Gardern: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Brindavan 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar, Balaiah Garden, Brindavan Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Brindavan Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Bageerathi Nagar: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Balaji 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 of these fees together 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Balaji Street?

The Sub Registrar Office that covers Srinivasa Nagar Balaji Street 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 Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value is used to determine the stamp duty and registration fees. It serves as a basis for calculating these fees, ensuring that the property is valued appropriately for registration purposes.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and proper documentation of the property transaction.

Frequently asked questions

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

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

How much has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a 10% rise.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Srinivasa Nagar Balaji Street's 2024 figure being above this median.

Where can I find the registration office for Srinivasa Nagar Balaji Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 would be Rs 2,69,500 and the registration fee would be Rs 77,000.