Guideline Value for Balakrishnan Street (Kodambakkam Salai) (S.P)

Balakrishnan Street (Kodambakkam Salai) (S.P) guideline value

The current guideline value of Balakrishnan Street (Kodambakkam Salai) (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, classified as Residential Class III Type - I.

How the guideline value of Balakrishnan Street (Kodambakkam Salai) (S.P) has changed

The guideline value for Balakrishnan Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,460 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 242% rise. However, this value dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 277%. 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 for these streets is Rs 4,900 per sq.ft, placing Balakrishnan Street (Kodambakkam Salai) (S.P) above this median value.

• Balakrishnan Street (Block 93, 94) (S.P): Rs 5,500 per sq.ft (2024)
• Balakrishnan Street (Block 76) (JPT): Rs 4,900 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 (Kodambakkam Salai) (S.P)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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, bringing the total costs to Rs 4,95,000. It is important to note that the 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 Street (Kodambakkam Salai) (S.P)?

The Sub Registrar Office that covers Balakrishnan Street (Kodambakkam Salai) (S.P) is 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 information.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes based on the current market conditions.

Frequently asked questions

What is the current guideline value of Balakrishnan Street (Kodambakkam Salai) (S.P)?

The current guideline value of Balakrishnan Street (Kodambakkam Salai) (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 significantly 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 median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, which is below the current value of Balakrishnan Street (Kodambakkam Salai) (S.P).

What are the stamp duty rates for properties in Balakrishnan Street?

The stamp duty for properties in Balakrishnan Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balakrishnan Street?

The Sub Registrar Office for Balakrishnan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.