Guideline Value for Balakrishna Street

Balakrishna Street guideline value

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

How the guideline value of Balakrishna Street has changed

The guideline value for Balakrishna Street has seen several revisions over the years. In 2002, the value was Rs 228 per sq.ft, which increased to Rs 260 per sq.ft in 2003. Following this, there was a significant rise to Rs 900 per sq.ft in 2007, marking an increase of 246%. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, an increase of 289%. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, an increase of 11%.

Overall, from 2002 to 2024, the guideline value has increased by 1611%. The register has no figures for the years not explicitly mentioned in the revisions.

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, which is equal to the current guideline value of Balakrishna Street.

• Balakrishnapuram Main Street/Road (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram Cross Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 6th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 5th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 4th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishna Puram 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna 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, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishna Street?

The Sub Registrar Office that covers Balakrishna 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 plays a crucial role during the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When completing a property transaction, the seller and buyer must consider the guideline value to ensure compliance with local regulations. The final sale price must be compared to the guideline value, as the higher of the two will determine the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Balakrishna Street?

The current guideline value of Balakrishna 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 changed from Rs 228 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1611% over this period.

What is the land classification for Balakrishna Street?

Balakrishna Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Balakrishna Street?

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

How is the stamp duty calculated for property in Balakrishna Street?

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