Guideline Value for Balakrishna nagar

Balakrishna nagar guideline value

The current guideline value of Balakrishna Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Balakrishna nagar has changed

The guideline value for Balakrishna Nagar has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and further rose to Rs 1,980 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 to 2024 revision saw a notable increase of 10%, while the jump from 2017 to 2023 was a substantial 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Balakrishna Nagar at Rs 1,980 per sq.ft is above this median.

• Balaji Street: Rs 1,650 per sq.ft (2024)
• Balakrishnan Street: Rs 1,650 per sq.ft (2024)
• Ballikuda 1st street: Rs 1,650 per sq.ft (2024)
• Ballikuda 2nd Street: Rs 1,650 per sq.ft (2024)
• Bangaru Kamatchi amman st: Rs 1,650 per sq.ft (2024)
• Barathi Dossan Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishna nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishna nagar?

The Sub Registrar Office that covers Balakrishna Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Peerklankaranai, as it serves as a benchmark for determining the stamp duty and registration fees. Buyers and sellers must consider the guideline value to ensure compliance with the registration requirements set by the local authorities.

When a property transaction occurs, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and reflects the current market conditions as per the government's assessment.

Frequently asked questions

What is the current guideline value of Balakrishna nagar?

The current guideline value of Balakrishna Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This value is set by the local authorities under the Tambaram Joint 1 SRO.

How has the guideline value changed over the years?

Over the years, the guideline value for Balakrishna Nagar has changed several times. It was Rs 1,800 per sq.ft in 2012, decreased to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally rose to Rs 1,980 per sq.ft in 2024.

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

For a property valued at Rs 19,80,000 in Balakrishna Nagar, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Balakrishna Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles the registration of properties in the area.

What is the land classification for Balakrishna nagar?

Balakrishna Nagar is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area, as determined by local regulations.