Guideline Value for Balakrishna Nagar

Balakrishna Nagar guideline value

The current guideline value of Balakrishna Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Balakrishna Nagar has changed

The guideline value for Balakrishna Nagar has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased to Rs 3,000 per sq.ft in 2023 and further rose to Rs 3,300 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the most significant changes were observed from 2017 to 2023, where the value increased by 49%. From 2023 to 2024, there was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Balakrishna Nagar.

• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Annex: Rs 2,200 per sq.ft (2024)
• Bemaswaran Koil St: Rs 3,300 per sq.ft (2024)
• Bethdhel puram: Rs 1,320 per sq.ft (2024)
• Bakthavatchalam Street: Rs 6,600 per sq.ft (2024)
• Bhagavandas street: Rs 4,400 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna Nagar?

Balakrishna Nagar falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is an essential factor in the registration process for property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is crucial for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar?

The current guideline value of Balakrishna Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Balakrishna Nagar?

Balakrishna Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Balakrishna Nagar?

The registration office for Balakrishna Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Balakrishna Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.