Guideline Value for Balakrishnan Street (Krishanmoorthy Nagar)

Balakrishnan Street (Krishanmoorthy Nagar) guideline value

The current guideline value of Balakrishnan Street (Krishanmoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balakrishnan Street (Krishanmoorthy Nagar) has changed

The guideline value for Balakrishnan Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 61% from Rs 1,675 per sq.ft in the 2017 revision. Prior to that, the 2012 revision listed the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

Overall, comparing the 2012 revision to the 2024 revision shows a slight increase of 8%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Balakrishnan Street.

• Balakrishna Street: Rs 2,700 per sq.ft (2024)
• Balaji Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar (Goyathoppu): Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Street (Krishanmoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balakrishnan Street (Krishanmoorthy Nagar)?

The Sub Registrar Office that covers Balakrishnan Street (Krishanmoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Balakrishnan Street?

The current guideline value of Balakrishnan Street (Krishanmoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then to Rs 2,700 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002.

What are the registration fees for a property on Balakrishnan Street?

The registration fees for a property on Balakrishnan Street are calculated based on the guideline value. For example, for a 1,000 sq.ft property at Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

Which office handles property registrations in Kodungaiyur?

The Madhavaram Sub Registrar Office handles property registrations in Kodungaiyur. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Balakrishnan Street?

Balakrishnan Street is classified as Residential Class I Type - I, indicating its designation for residential use within the Kodungaiyur area.