Guideline Value for Balakrishna Street

Balakrishna Street guideline value

The current guideline value of Balakrishna Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Balakrishna Street has changed

The guideline value for Balakrishna Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 61% to reach the current rate of Rs 2,700 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value for Balakrishna Street.

• Balakrishnan Street (Krishanmoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Balaji Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar (Goyathoppu): Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that the 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 Street?

The Sub Registrar Office covering Balakrishna Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value is considered to ensure that the appropriate taxes are paid. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Balakrishna Street?

The current guideline value of Balakrishna Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What is the land classification for Balakrishna Street?

Balakrishna Street is classified as Residential Class I Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

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

The Sub Registrar Office for Balakrishna Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.