Guideline Value for Balakrishna Nagar

Balakrishna Nagar guideline value

The current guideline value of Balakrishna Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balakrishna Nagar has changed

The guideline value for Balakrishna Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value for Balakrishna Nagar.

• Balaji Nagar Extn: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Bharaniputhur Road: Rs 2,200 per sq.ft (2024)
• Bharathi Cross Street: Rs 1,980 per sq.ft (2024)
• Bharathi Nagar: Rs 2,200 per sq.ft (2024)
• Bharathiyar Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Nagar

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, bringing the total fees to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna Nagar?

The Sub Registrar Office that covers Balakrishna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

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 registration process is aligned with the prevailing property values in the area.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar?

The current guideline value of Balakrishna Nagar 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 from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over the years.

What is the land classification of Balakrishna Nagar?

Balakrishna Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Balakrishna Nagar?

The Pammal Sub Registrar Office covers Balakrishna Nagar and is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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 of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.