Guideline Value for Balakrishnan Naicken Street(Extension) (W.M)

Balakrishnan Naicken Street(Extension) (W.M) guideline value

The current guideline value for Balakrishnan Naicken Street(Extension) (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 Naicken Street(Extension) (W.M) has changed

Over the years, the guideline value for Balakrishnan Naicken Street(Extension) has seen significant changes. The 2007 revision set the value at Rs 1,460 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012, marking a rise of 379%. However, from 2012 to 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The value then rose again to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

In summary, from the 2017 revision to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 427%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 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, placing Balakrishnan Naicken Street(Extension) (W.M) above this median at Rs 7,700 per sq.ft.

• Balakrishnan Naicken Street Block 36 (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(Extension) (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 amount to 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 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 more details.

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

The Sub Registrar Office that covers Balakrishnan Naicken Street(Extension) (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 is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and uniformity in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Balakrishnan Naicken Street(Extension) (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 this period.

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

Balakrishnan Naicken Street(Extension) (W.M) is classified as Mixed Type - II in terms of land classification.

Where can I find the Sub Registrar Office for this street?

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

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are based on the guideline value or the sale price, whichever is higher.