Guideline Value for BALAKRISHNA NAGAR

Balakrishna Nagar guideline value

The current guideline value of Balakrishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Periyapanancheri village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Balakrishna Nagar has changed

The guideline value for Balakrishna Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 804 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by +64%.

It is important to note that the register has no figures for Balakrishna Nagar for the years 2002, 2003, 2007, and 2012. This means that the values from 2017 onward are the only available references for this street.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which aligns with the guideline value of Balakrishna Nagar.

• Balakrishnan Street: Rs 990 per sq.ft (2024)
• Baraniputhur Junction Salai: Rs 1,320 per sq.ft (2024)
• Anna Street: Rs 2,200 per sq.ft (2024)
• Cititbabu Street: Rs 990 per sq.ft (2024)
• Anandha Vinayagar Nagar: Rs 1,320 per sq.ft (2024)
• Ambetkar Street (ward 6): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Nagar

For a property in Balakrishna Nagar measuring 1,000 sq.ft at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. 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 more details.

Which Sub Registrar Office covers Balakrishna Nagar?

The Balakrishna Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Periyapanancheri

The guideline value plays a crucial role during the registration of property transactions in Periyapanancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal and financial implications of their transactions. It is essential to consider this value to comply with local regulations and avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar?

The current guideline value of Balakrishna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, marking an overall change of +64%.

What are the stamp duty and registration fees for properties in Balakrishna Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How does the guideline value affect property transactions?

The guideline value serves as a minimum benchmark for property registration, influencing the stamp duty and registration fees that buyers and sellers must pay during transactions.