Guideline Value for Balakrishnan Street (Block 76) (JPT)

Balakrishnan Street (Block 76) (JPT) guideline value

The current guideline value of Balakrishnan Street (Block 76) (JPT) is Rs 4,900 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 Residential Class III Type - II.

How the guideline value of Balakrishnan Street (Block 76) (JPT) has changed

The guideline value for Balakrishnan Street (Block 76) (JPT) has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a rise of 272%. However, in the 2017 revision, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The value then rose to Rs 4,500 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 4,900 per sq.ft in the 2024 revision, reflecting a growth of 9%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 305%. It is important to note that there are no figures available 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 the 2024 guideline values 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, which is equal to the current guideline value of Balakrishnan Street (Block 76) (JPT).

• 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)
• Balakrishnan Street (VOC Block): Rs 4,100 per sq.ft (2024)
• Balakrishnan Street (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Naicken Street(Extension) (W.M): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Street (Block 76) (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please 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 Street (Block 76) (JPT)?

Balakrishnan Street (Block 76) (JPT) is covered by the Ashok Nagar Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 during property transactions in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

When purchasing property, the guideline value will be used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted transparently and fairly, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Balakrishnan Street (Block 76) (JPT)?

The current guideline value of Balakrishnan Street (Block 76) (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 1,210 per sq.ft in 2007, rising to Rs 4,500 in 2012, then decreasing to Rs 3,015 in 2017, and increasing to Rs 4,500 in 2023, before reaching Rs 4,900 in 2024.

What is the land classification of Balakrishnan Street (Block 76) (JPT)?

The land classification for Balakrishnan Street (Block 76) (JPT) is Residential Class III Type - II.

Which Sub Registrar Office covers Balakrishnan Street (Block 76) (JPT)?

Balakrishnan Street (Block 76) (JPT) is covered by the Ashok Nagar Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Balakrishnan Street (Block 76) (JPT)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 3,43,000.