Guideline Value for BALAKRISHNA NAGAR

Balakrishna Nagar guideline value

The current guideline value of Balakrishna Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balakrishna Nagar has changed

The guideline value for Balakrishna Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 181 per sq.ft, which increased to Rs 213 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking a 135% increase from the previous year. In 2012, the value remained at Rs 1,800 per sq.ft, and then it decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value saw a substantial increase of 49%, reaching Rs 1,800 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, which is a 6% increase from the previous year. There are no figures available for the revisions in other years for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. Balakrishna Nagar's 2024 figure is below this median.

• Basin Road: Rs 2,200 per sq.ft (2024)
• Bakthavasalam Nagar (Tsr Nagar): Rs 3,700 per sq.ft (2024)
• B.B.Tharka Road: Rs 2,800 per sq.ft (2024)
• Baharathiyar Street: Rs 3,300 per sq.ft (2024)
• Babu Jajeevan Nagar: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishna Nagar?

The Sub Registrar Office that covers Balakrishna Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is set by the government and is updated periodically to reflect changes in the market.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar?

The current guideline value of Balakrishna Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 in 2002 to Rs 1,900 in 2024, reflecting an overall increase of 950% over the years.

What are the stamp duty rates for property transactions in Balakrishna Nagar?

The stamp duty rate for property transactions in Balakrishna Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How can I calculate the registration fees for a property in Balakrishna Nagar?

You can calculate the registration fees using the stamp duty and registration fee calculator provided on the site.