Guideline Value for Balakrishna Mudali Street Block 35 (W.M)

Balakrishna Mudali Street Block 35 (W.M) guideline value

The current guideline value of Balakrishna Mudali Street Block 35 (W.M) is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - II land.

How the guideline value of Balakrishna Mudali Street Block 35 (W.M) has changed

Over the years, the guideline value for Balakrishna Mudali Street Block 35 (W.M) has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,460 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a rise of 379%. However, the value decreased to Rs 4,690 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 7,000 per sq.ft in 2023, and then to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase from the previous year and an overall increase of 427% from 2007.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The guideline value has evolved significantly, with a 49% increase from 2017 to 2023, showcasing the fluctuations in property valuation over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Balakrishna Mudali Street Block 35 (W.M) is above this median, indicating its relative valuation within the area.

• Balakrishnan Chetty Street (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Naicken Street Block 36 (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Naicken Street(Extension) (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Street (Block 76) (JPT): Rs 4,900 per sq.ft (2024)
• Balakrishnan Street (Block 93, 94) (S.P): Rs 5,500 per sq.ft (2024)
• Balakrishnan Street (Kodambakkam Salai) (S.P): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Mudali Street Block 35 (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishna Mudali Street Block 35 (W.M)?

The Sub Registrar Office that covers Balakrishna Mudali Street Block 35 (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Balakrishna Mudali Street Block 35 (W.M)?

The current guideline value of Balakrishna Mudali Street Block 35 (W.M) is Rs 7,700 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 1,460 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 427%.

What is the land classification for Balakrishna Mudali Street Block 35 (W.M)?

Balakrishna Mudali Street Block 35 (W.M) is classified as Mixed Type - II land, which reflects its diverse usage potential.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Balakrishna Mudali Street Block 35 (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 77,00,000, the total fees would amount to Rs 6,93,000.