Guideline Value for Balakrishna Puram

Balakrishna Puram guideline value

The current guideline value of Balakrishna Puram is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balakrishna Puram has changed

The guideline value for Balakrishna Puram 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. The value rose sharply to Rs 900 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 3,500 per sq.ft, and the current revision in 2024 has set it at Rs 3,900 per sq.ft.

Notable changes include an increase of 11% from 2023 to 2024, and a significant rise of 49% from 2017 to 2023. The value also saw a remarkable increase of 289% from 2007 to 2012, and a 227% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1518%.

Guideline values in Adambakkam

In Adambakkam, there are 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 value is Rs 3,900 per sq.ft, making Balakrishna Puram's current value equal to this median.

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

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, totaling Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna Puram?

The Sub Registrar Office that covers Balakrishna Puram 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 transactions in Adambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to consider this value to ensure compliance with registration norms and to avoid any legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Balakrishna Puram?

The current guideline value of Balakrishna Puram 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 changed significantly 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 of Balakrishna Puram?

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

Where can I find the registration office for Balakrishna Puram?

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

How is stamp duty calculated for properties in Balakrishna Puram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.