Guideline Value for BALAKRISHNA STREET

Balakrishna Street guideline value

The current guideline value of Balakrishna Street is Rs 12,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Balakrishna Street has changed

The guideline value for Balakrishna Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,221 per sq.ft, which increased to Rs 1,351 per sq.ft in 2003, marking an increase of 11%. The value rose substantially to Rs 2,200 per sq.ft in 2007, reflecting a 63% increase. Following this, the value surged to Rs 11,500 per sq.ft in 2012, representing a remarkable increase of 423%. However, it then decreased to Rs 7,705 per sq.ft in 2017, showing a decline of 33%. The value rebounded to Rs 11,500 per sq.ft in 2023, before reaching the current figure of Rs 12,650 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 936%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Balakrishna Street's 2024 figure above this median.

• Balam Estate: Rs 7,150 per sq.ft (2024)
• Balu Avenue: Rs 7,150 per sq.ft (2024)
• Banu Avenue: Rs 7,150 per sq.ft (2024)
• Balaji Nagar (Avvai Nagar): Rs 7,150 per sq.ft (2024)
• Balaguru Colony: Rs 7,150 per sq.ft (2024)
• Beach Road: Rs 12,650 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Street

For a 1,000 sq.ft plot at the current rate of Rs 12,650 per sq.ft, the guideline value amounts to Rs 1,26,50,000. The stamp duty at 7% would be Rs 8,85,500, and the registration fee at 2% would be Rs 2,53,000, bringing the total to Rs 11,38,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna Street?

The Sub Registrar Office that covers Balakrishna Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balakrishna Street?

The current guideline value of Balakrishna Street is Rs 12,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,221 per sq.ft in 2002 to Rs 12,650 per sq.ft in 2024, which is a total increase of 936% over this period.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Balakrishna Street's value being above this median.

What are the stamp duty rates for properties in Balakrishna Street?

The stamp duty rate for properties in Balakrishna Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Balakrishna Street located?

The Sub Registrar Office for Balakrishna Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.