Guideline Value for Balakrishnan 1st Street

Balakrishnan 1st Street guideline value

The current guideline value of Balakrishnan 1st 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 1st Street has changed

The guideline value for Balakrishnan 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, it decreased to Rs 1,005 per sq.ft, followed by a rise to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 1,600 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The increase from 2023 to 2024 was 7%. Overall, from 2007 to 2024, the guideline value has increased by 167%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

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

• Balakrishnan 2nd 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 1st 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, bringing the total to 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 1st Street?

The Sub Registrar Office that covers Balakrishnan 1st 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 crucial factor when registering property in Tondaiarpet. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate transactions. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishnan 1st Street?

The current guideline value of Balakrishnan 1st 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, with various increases and decreases in between, including a rise of 167% overall from 2007 to 2024.

What are the stamp duty and registration fees for property in Balakrishnan 1st Street?

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 Sub Registrar Office covers Balakrishnan 1st Street?

The Royapuram Sub Registrar Office covers Balakrishnan 1st Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Balakrishnan 1st Street?

Balakrishnan 1st Street is classified as Residential Class I Type - II, indicating its suitability for residential development.