Guideline Value for Balakrishnan Chetty Street (W.M)

Balakrishnan Chetty Street (W.M) guideline value

The current guideline value of Balakrishnan Chetty Street (W.M) is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - II.

How the guideline value of Balakrishnan Chetty Street (W.M) has changed

Since the 2007 revision, the guideline value for Balakrishnan Chetty Street (W.M) has seen significant changes. In 2007, the value was Rs 1,460 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012. However, this value dropped to Rs 4,690 per sq.ft in 2017. The 2023 revision brought it back up to Rs 7,000 per sq.ft, and the latest 2024 revision set the value at Rs 7,700 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 427%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which means that Balakrishnan Chetty Street (W.M) is above this median.

• Balakrishnan Naicken Street Block 36 (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Naicken Street(Extension) (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Street (Block 76) (JPT): Rs 4,900 per sq.ft (2024)
• Balakrishnan Street (Block 93, 94) (S.P): Rs 5,500 per sq.ft (2024)
• Balakrishnan Street (Kodambakkam Salai) (S.P): Rs 5,500 per sq.ft (2024)
• Balakrishnan Street (V.M) (JPT): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Chetty Street (W.M)

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. Please 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 further calculations.

Which Sub Registrar Office covers Balakrishnan Chetty Street (W.M)?

The Sub Registrar Office that covers Balakrishnan Chetty Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for buying or selling properties in Kodambakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Balakrishnan Chetty Street (W.M)?

The current guideline value of Balakrishnan Chetty Street (W.M) is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,460 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 427% since 2007.

What is the stamp duty rate for properties in Balakrishnan Chetty Street (W.M)?

The stamp duty rate for properties in Balakrishnan Chetty Street (W.M) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balakrishnan Chetty Street (W.M)?

The Sub Registrar Office for Balakrishnan Chetty Street (W.M) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Balakrishnan Chetty Street (W.M) having a value above this median.