Guideline Value for BALAKRISHNA ROAD

Balakrishna Road guideline value

The current guideline value of Balakrishna Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balakrishna Road has changed

The guideline value for Balakrishna Road has seen significant changes over the years. In 2002, the guideline value was Rs 1,220 per sq.ft, which increased to Rs 2,420 per sq.ft in 2003, marking a change of +98%. By 2007, the value rose to Rs 3,604 per sq.ft, reflecting a +49% increase from the previous revision. The 2012 revision set the value at Rs 13,000 per sq.ft, showing a remarkable increase of +261% from 2007. Finally, the current guideline value of Rs 14,300 per sq.ft was established in the 2024 revision, indicating a +10% increase from 2012.

Overall, from 2002 to 2024, the guideline value has increased by +1072%. It is important to note that the register has no figures for the years 2017 and 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Balakrishna Road's 2024 guideline value of Rs 14,300 per sq.ft is notably above this median.

• Balasubramanian Street: Rs 13,200 per sq.ft (2024)
• Bangaru Ammal Street: Rs 7,100 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty, charged at 7%, would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishna Road?

The Sub Registrar Office that covers Balakrishna Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the market value of the property.

Frequently asked questions

What is the current guideline value of Balakrishna Road?

The current guideline value of Balakrishna Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,220 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, marking an overall increase of +1072%.

What are the stamp duty and registration fees for properties on Balakrishna Road?

For a 1,000 sq.ft property, the total guideline value is Rs 1,43,00,000, with stamp duty of Rs 10,01,000 and registration fees of Rs 2,86,000, totaling Rs 12,87,000.

Which Sub Registrar Office is responsible for Balakrishna Road?

The Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018, is responsible for Balakrishna Road.

Are there any years with no guideline value figures for Balakrishna Road?

Yes, the register has no figures for Balakrishna Road for the years 2017 and 2023.