Guideline Value for Bala Krishnan Street

Bala Krishnan Street guideline value

The current guideline value of Bala Krishnan Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Bala Krishnan Street has changed

The guideline value for Bala Krishnan Street has seen several revisions over the years. In 2003, the guideline value was Rs 1,495 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. Following that, there was a significant rise to Rs 5,500 per sq.ft in 2012, but this value dropped to Rs 3,685 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 5,500 per sq.ft, and the latest revision in 2024 has set it at Rs 6,000 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 301%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which means that the guideline value for Bala Krishnan Street is above this median.

• Balasubaraya Chetty Lane: Rs 5,500 per sq.ft (2024)
• Balasubaraya Chetty Street: Rs 5,500 per sq.ft (2024)
• Bangarammal Street: Rs 4,400 per sq.ft (2024)
• Barlin Basin Street (Elephant Gate Street): Rs 6,000 per sq.ft (2024)
• Barracks 1st Lane: Rs 4,900 per sq.ft (2024)
• Barracks 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total charges to Rs 5,40,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Bala Krishnan Street?

The Sub Registrar Office that covers Bala Krishnan Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in Muthiyalpet.

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 fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bala Krishnan Street?

The current guideline value of Bala Krishnan Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,495 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 301% over these years.

What is the median guideline value for streets in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Bala Krishnan Street's value being above this median.

What are the stamp duty and registration fees for a property on Bala Krishnan Street?

For a 1,000 sq.ft property on Bala Krishnan Street, the total guideline value is Rs 60,00,000, resulting in a stamp duty of Rs 4,20,000 and a registration fee of Rs 1,20,000, totaling Rs 5,40,000.

Where is the Sowcarpet Sub Registrar Office located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01.