Guideline Value for BALAKRISHNAN STREET

Balakrishnan Street guideline value

The current guideline value of Balakrishnan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Balakrishnan Street has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. From 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

The revisions for the years 2002, 2003, and 2007 have no figures recorded for Balakrishnan Street in the register.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Balakrishnan Street's 2024 figure is below this median.

• Balaraman 1 To 2 Streets: Rs 1,960 per sq.ft (2024)
• Balaraman Street: Rs 1,960 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,960 per sq.ft (2024)
• Bharath Avenue: Rs 1,960 per sq.ft (2024)
• Bharathi Street: Rs 1,960 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Balakrishnan Street?

The Sub Registrar Office that covers Balakrishnan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanmangalam. It is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are recorded accurately and transparently in the official register.

Frequently asked questions

What is the current guideline value of Balakrishnan Street?

The current guideline value of Balakrishnan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then up to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the classification of Balakrishnan Street?

Balakrishnan Street is classified as Residential Class I Type - III under the Pallavaram SRO.

Where can I find the Sub Registrar Office for Balakrishnan Street?

The Sub Registrar Office for Balakrishnan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nanmangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at the rate of 7%.