Guideline Value for Balakrishnan Street (Block 93, 94) (S.P)

Balakrishnan Street (Block 93, 94) (S.P) guideline value

The current guideline value for Balakrishnan Street (Block 93, 94) (S.P) is Rs 5,500 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 - I.

How the guideline value of Balakrishnan Street (Block 93, 94) (S.P) has changed

Since the 2007 revision, the guideline value for Balakrishnan Street (Block 93, 94) (S.P) has seen significant changes. In 2007, the value was Rs 1,460 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision saw an increase to Rs 5,000 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 277%. The changes between revisions include a 242% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making the 2024 figure for Balakrishnan Street (Block 93, 94) (S.P) above this median.

• Balakrishnan Street (Block 76) (JPT): Rs 4,900 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 93, 94) (S.P)

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Street (Block 93, 94) (S.P)?

The Sub Registrar Office that covers Balakrishnan Street (Block 93, 94) (S.P) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a critical factor during property registration in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, which are mandatory for property transactions.

When buying or selling property, it is important to be aware that the guideline value will influence the overall costs associated with the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value for Balakrishnan Street (Block 93, 94) (S.P)?

The current guideline value for Balakrishnan Street (Block 93, 94) (S.P) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 277% over the years.

What is the land classification for Balakrishnan Street (Block 93, 94) (S.P)?

The land classification for Balakrishnan Street (Block 93, 94) (S.P) is Residential Class III Type - I.

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

The Ashok Nagar Sub Registrar Office covers Balakrishnan Street (Block 93, 94) (S.P) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Balakrishnan Street (Block 93, 94) (S.P)?

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 plot, the total stamp duty would be Rs 3,85,000 based on the current guideline value.