Guideline Value for Balakrishnan Nagar

Balakrishnan Nagar guideline value

The current guideline value of Balakrishnan Nagar is Rs 880 per sq.ft, effective from the 2024 revision. This area is located in Sundaracholavaram village and falls under the Kunrathur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Balakrishnan Nagar has changed

The guideline value for Balakrishnan Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased to Rs 800 per sq.ft in the 2012 revision. However, it then decreased to Rs 536 per sq.ft in the 2017 revision. The value rose to Rs 800 per sq.ft again in the 2023 revision and is now Rs 880 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%. Notably, the register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,600 per sq.ft. The median guideline value in the village is Rs 660 per sq.ft, placing Balakrishnan Nagar's current value above this median.

• Balakrishnan naidu street: Rs 660 per sq.ft (2024)
• Bajanai Koil to Koladi link: Rs 660 per sq.ft (2024)
• Bajanai Koil Street: Rs 550 per sq.ft (2024)
• Bajanai koil I st Street: Rs 550 per sq.ft (2024)
• AzhagarSwamy Nager: Rs 660 per sq.ft (2024)
• Avadi Paruthippattu Road: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to 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 Balakrishnan Nagar?

Balakrishnan Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sundaracholavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated accurately based on the property's value.

When registering a property, the guideline value must be considered, as it influences the financial obligations of both buyers and sellers. It is essential to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishnan Nagar?

The current guideline value of Balakrishnan Nagar is Rs 880 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over this period.

What is the land classification for Balakrishnan Nagar?

Balakrishnan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 79,200.

Where is the Sub Registrar Office for Balakrishnan Nagar located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it is responsible for property registrations in Balakrishnan Nagar.