Guideline Value for Balakrishna Nagar 4th Street

Balakrishna Nagar 4th Street guideline value

The current guideline value of Balakrishna Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Balakrishna Nagar 4th Street has changed

The guideline value for Balakrishna Nagar 4th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 103 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 143% rise. Following this, the value rose to Rs 300 per sq.ft in 2007, a 20% increase. The next revision in 2012 saw the value jump significantly to Rs 2,000 per sq.ft, which was a 567% increase. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Throughout these revisions, there have been no figures recorded for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2036%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Balakrishna Nagar 4th Street.

• Balakrishna Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Balavinayagar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Nagar 4th 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. Together, the total cost for stamp duty and registration fee would be 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 4th Street?

The Sub Registrar Office that covers Balakrishna Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Nerkundram. It is the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value is also significant as it helps determine the minimum price at which the property can be registered. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value for Balakrishna Nagar 4th Street?

The current guideline value for Balakrishna Nagar 4th 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 changed significantly, from Rs 103 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 2036% over the years.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,98,000.

Which Sub Registrar Office covers Balakrishna Nagar 4th Street?

The Virugambakkam Sub Registrar Office covers Balakrishna Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Balakrishna Nagar 4th Street?

The land classification for Balakrishna Nagar 4th Street is Residential Class IV Type - I.