Guideline Value for BALAKRISHNA MUDALI STREET

Balakrishna Mudali Street guideline value

The current guideline value of Balakrishna Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Balakrishna Mudali Street has changed

The guideline value for Balakrishna Mudali Street has seen several revisions over the years. In 2002, the guideline value was Rs 420 per sq.ft. This figure increased to Rs 461 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 600 per sq.ft in 2007, which was a 30% increase. By 2012, the guideline value had jumped to Rs 3,500 per sq.ft, reflecting a substantial increase of 483% from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, which was a decrease of 33% from 2012.

In 2023, the guideline value increased to Rs 3,500 per sq.ft, and then it rose again to Rs 3,800 per sq.ft in 2024, representing a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 805%. The register has no figure for Balakrishna Mudali Street for the years not mentioned.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Balakrishna Mudali Street's 2024 figure above that median.

• Balamurugan Street: Rs 5,400 per sq.ft (2024)
• Bangaru Street: Rs 2,200 per sq.ft (2024)
• Barathamatha 1st Street: Rs 3,800 per sq.ft (2024)
• Barathamatha 2nd Street: Rs 3,800 per sq.ft (2024)
• Barathamatha 3rd Street: Rs 3,800 per sq.ft (2024)
• Barathamatha Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Mudali Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value totals Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Balakrishna Mudali Street?

The Sub Registrar Office that covers Balakrishna Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Perambur. It serves as a reference point for determining the stamp duty and registration fees at the time of property registration. Buyers and sellers should be aware that the guideline value may influence the overall cost of the transaction.

When buying or selling property, it is crucial to consider the guideline value as it ensures compliance with local regulations. This value is used to calculate the applicable taxes and fees, making it a vital aspect of the property transfer process.

Frequently asked questions

What is the current guideline value of Balakrishna Mudali Street?

The current guideline value of Balakrishna Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 420 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 805% over the years.

What is the land classification for Balakrishna Mudali Street?

Balakrishna Mudali Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, with a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Balakrishna Mudali Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Balakrishna Mudali Street.