Guideline Value for Balakrishna Nagar

Balakrishna Nagar guideline value

The current guideline value of Balakrishna Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Kovur village and falls under the Kunrathur SRO, with a land classification of Mixed Type - I.

How the guideline value of Balakrishna Nagar has changed

The guideline value for Balakrishna Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 44 per sq.ft, which increased to Rs 155 per sq.ft in 2007. This was a substantial rise of 252%. Following this, the value surged dramatically to Rs 1,300 per sq.ft in 2012, marking a 739% increase. However, it then decreased to Rs 871 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 1,300 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,430 per sq.ft, an increase of 10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3150%. It is important to note that there is no figure available for Balakrishna Nagar in the 2002 revision.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Balakrishna Nagar is below this median.

• Balamurugan Nagar: Rs 1,430 per sq.ft (2024)
• Balaji Nagar: Rs 1,430 per sq.ft (2024)
• Bathra Nagar: Rs 1,650 per sq.ft (2024)
• Arumugam Nagar: Rs 1,650 per sq.ft (2024)
• A.P.S. Garden: Rs 1,650 per sq.ft (2024)
• Annammal Nagar: Rs 1,650 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 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would amount to Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total fees to Rs 1,28,700. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kovur, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the guideline value helps ensure that the transaction is transparent and reflects the value of the property in the eyes of the government. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Balakrishna Nagar?

The current guideline value of Balakrishna Nagar is Rs 1,430 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 44 per sq.ft in 2003 to Rs 1,430 per sq.ft in 2024, with various increases and one decrease in between.

What is the median guideline value for streets in Kovur?

The median guideline value for streets in Kovur is Rs 1,650 per sq.ft, with Balakrishna Nagar's value being below this median.

What are the stamp duty and registration fees for property in Balakrishna Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,28,700, based on the current guideline value.

Which office handles property registrations in Balakrishna Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Balakrishna Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.