Guideline Value for BALAKIRSHNAN NAGAR

Balakirshnan Nagar guideline value

The current guideline value of Balakirshnan Nagar, located in Karumbur village under the Chengleput Joint II SRO, is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Balakirshnan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 350 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 350 per sq.ft. The 2024 revision has maintained this figure, resulting in no overall change from the 2012 value.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the guideline value for Balakirshnan Nagar has seen fluctuations, but it is currently consistent with the figures from previous revisions.

Guideline values in Karumbur

In Karumbur, there are 10 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 600 per sq.ft, with a median value of Rs 501 per sq.ft. The guideline value for Balakirshnan Nagar is below this median.

• Balaji Nagar Phase-II: Rs 500 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• Alavattayamman Nagar: Rs 350 per sq.ft (2024)
• Goldan Royal: Rs 501 per sq.ft (2024)
• Jayamaruthi Puram: Rs 501 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Balakirshnan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakirshnan Nagar?

The Sub Registrar Office covering Balakirshnan Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Karumbur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When buying or selling property, understanding the guideline value helps ensure compliance with local regulations. It is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balakirshnan Nagar?

The current guideline value of Balakirshnan Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease to Rs 234 per sq.ft in 2017, followed by an increase back to Rs 350 per sq.ft in 2023 and 2024. Overall, there has been no change from the 2012 value.

What are the other streets in Karumbur and their guideline values?

Other streets in Karumbur have varying guideline values, with figures ranging from Rs 350 to Rs 600 per sq.ft. The median value for these streets is Rs 501 per sq.ft.

What are the stamp duty and registration fees for property in Balakirshnan Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 31,500.

Which Sub Registrar Office covers Balakirshnan Nagar?

The Chengleput Joint II Sub Registrar Office covers Balakirshnan Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.