Guideline Value for BALAKRISHNA STREET

Balakrishna Street guideline value

The current guideline value of Balakrishna Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, classified as Residential Class I Type - II.

How the guideline value of Balakrishna Street has changed

Over the years, the guideline value of Balakrishna Street has seen significant changes. In the 2007 revision, the value was Rs 1,012 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012, marking a rise of 592%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The value then rose to Rs 7,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 7,700 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for Balakrishna Street. From 2017 to 2023, the guideline value increased by 49%, leading to the current value of Rs 7,700 per sq.ft in 2024, which represents an overall increase of 661% from the 2007 figure.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, positioning Balakrishna Street above this median.

• Balaji Singh Street: Rs 7,700 per sq.ft (2024)
• Barathidasan East Street Appavoo Nagar: Rs 7,700 per sq.ft (2024)
• Barathidasan Street: Rs 7,700 per sq.ft (2024)
• Barathi Street East To West Western Side Of Aranganatha Subway: Rs 7,700 per sq.ft (2024)
• Bazaar Road: Rs 12,100 per sq.ft (2024)
• BAZAAR ROAD Ist LANE: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishna Street?

The Sub Registrar Office that covers Balakrishna Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mambalam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishna Street?

The current guideline value of Balakrishna Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,012 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, which is an overall increase of 661%.

What is the median guideline value for streets in Mambalam?

The median guideline value for the 163 streets in Mambalam under the Thiyagaraya nagar SRO is Rs 6,600 per sq.ft.

What are the stamp duty and registration fees for property in Balakrishna Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 77,00,000, with stamp duty at Rs 5,39,000 and registration fees at Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers Balakrishna Street?

The Thiyagaraya nagar Sub Registrar Office covers Balakrishna Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.