Guideline Value for BALAMUTHUKRISHNA ROAD

Balamuthukrishna Road guideline value

The current guideline value of Balamuthukrishna Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Balamuthukrishna Road has changed

The guideline value has seen several revisions over the years. In 2002, the value was Rs 858 per sq.ft, which increased to Rs 953 per sq.ft in 2003. Following this, the value experienced a significant rise to Rs 5,500 per sq.ft in 2007, and then to Rs 16,000 per sq.ft in 2012. However, it dropped to Rs 10,720 per sq.ft in 2017, before climbing back to Rs 16,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 17,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1951%. The revisions have shown notable changes, such as a 477% increase from 2003 to 2007 and a 49% increase from 2017 to 2023. There are no figures available for the years not listed in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, making Balamuthukrishna Road's 2024 figure of Rs 17,600 per sq.ft above that median.

• Balu Mudali Street: Rs 5,500 per sq.ft (2024)
• Balamandir Road: Rs 5,500 per sq.ft (2024)
• Basudev Street: Rs 13,200 per sq.ft (2024)
• Basullah Road: Rs 17,600 per sq.ft (2024)
• Balaji Avenue Iind Street: Rs 14,300 per sq.ft (2024)
• Balaji Avenue 1 St Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balamuthukrishna Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, together totaling Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balamuthukrishna Road?

The Sub Registrar Office that covers Balamuthukrishna Road 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 Tnagar

When buying or selling property in Tnagar, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is set by the government and is used as a benchmark for transactions, ensuring that the fees are calculated fairly based on the property's worth.

At the time of registration, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balamuthukrishna Road?

The current guideline value of Balamuthukrishna Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 858 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking a significant overall increase of 1951% over the years.

What is the land classification for Balamuthukrishna Road?

Balamuthukrishna Road is classified as Commercial Special Type - III, indicating its intended use and regulatory framework.

What are the stamp duty and registration fees for property on this road?

For a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000 and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000.

Where can I find the Sub Registrar Office for Balamuthukrishna Road?

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