Guideline Value for Balakrishna Naidu Colony

Balakrishna Naidu Colony guideline value

The current guideline value of Balakrishna Naidu Colony, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - III land classification.

How the guideline value of Balakrishna Naidu Colony has changed

The guideline value for Balakrishna Naidu Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012, marking a rise of 288%. However, from 2012 to 2017, the value decreased to Rs 2,077 per sq.ft, reflecting a decline of 33%. The value then surged to Rs 3,100 per sq.ft in 2023, an increase of 49%, before reaching the current rate of Rs 3,400 per sq.ft in 2024, which is a 10% rise from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the guideline value of Balakrishna Naidu Colony.

• Basin Road: Rs 2,200 per sq.ft (2024)
• Ayyapillai Thotta Street: Rs 3,400 per sq.ft (2024)
• Chairman Varadharajapuram: Rs 3,400 per sq.ft (2024)
• Arignar Anna Nagar: Rs 3,400 per sq.ft (2024)
• Chetty Street: Rs 3,400 per sq.ft (2024)
• Chinna Mettu Palayam (Corner Plots): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Naidu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost for stamp duty and registration fees Rs 3,06,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna Naidu Colony?

The Balakrishna Naidu Colony falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Satthankadu. It serves as a benchmark for determining the value of the property, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Balakrishna Naidu Colony?

The current guideline value of Balakrishna Naidu Colony is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 800 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, which reflects a significant overall increase of 325% since 2007.

What are the stamp duty and registration fees for properties in Balakrishna Naidu Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,06,000, based on the current guideline value of Rs 34,00,000.

Which Sub Registrar Office covers Balakrishna Naidu Colony?

The Thiruvottiyur Sub Registrar Office covers Balakrishna Naidu Colony, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Balakrishna Naidu Colony?

Balakrishna Naidu Colony is classified under Residential Special Type - III, which influences its guideline value and property transactions.