Guideline Value for Balakrishna Puram 3rd Street

Balakrishna Puram 3rd Street guideline value

The current guideline value of Balakrishna Puram 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Balakrishna Puram 3rd Street has changed

The guideline value for Balakrishna Puram 3rd Street has seen significant changes over the years. In 2002, the value was Rs 241 per sq.ft, which increased to Rs 275 per sq.ft in 2003. Following this, the value rose substantially to Rs 900 per sq.ft in 2007, marking an increase of 227%. By 2012, the guideline value was Rs 3,500 per sq.ft, but this represented a decrease of 33% from the previous revision. In 2017, it again increased to Rs 2,345 per sq.ft, and then saw a major rise to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1518%. Notably, there are no figures available for the years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are a total of 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current figure for Balakrishna Puram 3rd Street.

• Balakrishnapuram 2nd Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 4th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 1st Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 5th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishna Puram: Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 6th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna Puram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 Puram 3rd Street?

The Sub Registrar Office that covers Balakrishna Puram 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Adambakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or transferred. During the registration process, the guideline value is used to calculate applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value can influence the overall cost of property transactions. It is essential to consult the latest guideline values to ensure compliance with local regulations during property dealings.

Frequently asked questions

What is the current guideline value of Balakrishna Puram 3rd Street?

The current guideline value of Balakrishna Puram 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 241 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1518% over this period.

What is the land classification for Balakrishna Puram 3rd Street?

Balakrishna Puram 3rd Street falls under the Residential Class I Type - III land classification.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Balakrishna Puram 3rd Street?

The Alandur Sub Registrar Office handles the registration for Balakrishna Puram 3rd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.