Guideline Value for Balakrishnan Naicken Street Block 36 (W.M)

Balakrishnan Naicken Street Block 36 (W.M) guideline value

The current guideline value of Balakrishnan Naicken Street Block 36 (W.M) is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Balakrishnan Naicken Street Block 36 (W.M) has changed

The guideline value for Balakrishnan Naicken Street Block 36 (W.M) has seen significant changes over the years. In the 2007 revision, the value was Rs 1,460 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012. However, this figure dropped by 33% to Rs 4,690 per sq.ft in 2017. The value then rose by 49% to Rs 7,000 per sq.ft in the 2023 revision, and finally increased by 10% to the current value of Rs 7,700 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 427%. The changes between the revisions indicate a fluctuating trend, with the most notable increase occurring between 2007 and 2012, where the value surged by 379%. The subsequent revisions have shown a mix of increases and decreases, culminating in the current guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, positioning Balakrishnan Naicken Street Block 36 (W.M) above this median.

• Balakrishnan Naicken Street(Extension) (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Chetty Street (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 Naicken Street Block 36 (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishnan Naicken Street Block 36 (W.M)?

The Sub Registrar Office that covers Balakrishnan Naicken Street Block 36 (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 details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Balakrishnan Naicken Street Block 36 (W.M)?

The current guideline value of Balakrishnan Naicken Street Block 36 (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% over the years.

What is the land classification for Balakrishnan Naicken Street Block 36 (W.M)?

The land classification for Balakrishnan Naicken Street Block 36 (W.M) is Mixed Type - II.

Which Sub Registrar Office is responsible for this street?

The Ashok Nagar Sub Registrar Office is responsible for Balakrishnan Naicken Street Block 36 (W.M), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.