Guideline Value

Corporate

Guideline Value for Balakrishna Nagar 1st Street

₹2200/sq.ft.

The guideline value for Balakrishna Nagar 1st Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹250 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹103 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Balakrishna Nagar 1st Street

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Balakrishna Nagar 1st Street guideline value

The current guideline value for Balakrishna Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balakrishna Nagar 1st Street has changed

The guideline value for Balakrishna Nagar 1st Street has seen significant changes over the years. In the 2002 revision, the value was Rs 103 per sq.ft, which increased to Rs 250 per sq.ft in 2003. Following this, the value rose to Rs 300 per sq.ft in 2007, and then saw a remarkable increase to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. The overall change from 2002 to 2024 is an increase of 2036%.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 143%; from 2003 to 2007, the increase was 20%; a significant jump of 567% occurred from 2007 to 2012; a decrease of 33% was noted from 2012 to 2017; and a 49% increase was recorded from 2017 to 2023. The latest change from 2023 to 2024 reflects a 10% increase.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value for Balakrishna Nagar 1st Street.

Stamp duty and registration fee for property in Balakrishna Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balakrishna Nagar 1st Street?

The Sub Registrar Office that covers Balakrishna Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is recorded at a value that reflects the current market conditions as assessed by the government.

When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the agreed sale price. This practice helps maintain transparency and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar 1st Street?

The current guideline value of Balakrishna Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 103 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 2036% over this period.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with a guideline value of Rs 2,200 per sq.ft include Balakrishna Nagar 2nd Street, 3rd Street, 4th Street, 5th Street, Balakrishna Nagar Main Road, and Balavinayagar Nagar.

What is the stamp duty rate for properties in Balakrishna Nagar 1st Street?

The stamp duty rate for properties in Balakrishna Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Balakrishna Nagar 1st Street located?

The Virugambakkam Sub Registrar Office covers Balakrishna Nagar 1st Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.