Guideline Value for Balakrishnan 2nd Street

Balakrishnan 2nd Street guideline value

The current guideline value of Balakrishnan 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - II.

How the guideline value of Balakrishnan 2nd Street has changed

The guideline value for Balakrishnan 2nd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 1,500 per sq.ft, and the latest 2024 revision raised it to Rs 1,600 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, there was a substantial increase of 150%. However, between 2012 and 2017, the value decreased by 33%. The value then saw a significant rise of 49% from 2017 to 2023, followed by a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which aligns with the current value for Balakrishnan 2nd Street.

• Balakrishnan 1st Street: Rs 1,600 per sq.ft (2024)
• Balu Street: Rs 2,200 per sq.ft (2024)
• Bashyam Street: Rs 2,200 per sq.ft (2024)
• Basin Bridge Road: Rs 4,900 per sq.ft (2024)
• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Azhagammal Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishnan 2nd Street?

The Sub Registrar Office that covers Balakrishnan 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Tondaiarpet. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a buyer or seller engages in a property transaction, the guideline value is used to determine the official value of the property for registration purposes. This helps in maintaining consistency across property transactions within the region.

Frequently asked questions

What is the current guideline value of Balakrishnan 2nd Street?

The current guideline value of Balakrishnan 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 167% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet for 2024 is Rs 1,600 per sq.ft, which is the same as the current guideline value for Balakrishnan 2nd Street.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registrations for Balakrishnan 2nd Street?

The Royapuram Sub Registrar Office handles property registrations for Balakrishnan 2nd Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.