Guideline Value for Balakrishnan Street (V.M) (JPT)

Balakrishnan Street (V.M) (JPT) guideline value

The current guideline value of Balakrishnan Street (V.M) (JPT) is Rs 4,100 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 IV Type - I.

How the guideline value of Balakrishnan Street (V.M) (JPT) has changed

Looking back at the revisions, the guideline value for Balakrishnan Street (V.M) (JPT) has seen significant changes over the years. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased to Rs 3,750 per sq.ft in 2012, marking a rise of 210%. However, it then decreased to Rs 2,512 per sq.ft in 2017, reflecting a drop of 33%. The value further increased to Rs 3,750 per sq.ft in 2023 and then rose to the current figure of Rs 4,100 per sq.ft in 2024, showing a 9% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 239%.

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 is Rs 4,900 per sq.ft, placing Balakrishnan Street (V.M) (JPT) below this median.

• Balakrishnan Street (VOC Block): Rs 4,100 per sq.ft (2024)
• Balakrishnan Street (W.M): Rs 7,700 per sq.ft (2024)
• Balakrishnan Street (Kodambakkam Salai) (S.P): Rs 5,500 per sq.ft (2024)
• 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 Naicken Street(Extension) (W.M): Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Street (V.M) (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishnan Street (V.M) (JPT)?

The Sub Registrar Office that covers Balakrishnan Street (V.M) (JPT) 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 here.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded accurately and complies with local regulations.

It is important for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. The guideline value serves as a benchmark for property valuation and helps in maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Balakrishnan Street (V.M) (JPT)?

The current guideline value of Balakrishnan Street (V.M) (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, which is an overall increase of 239%.

What is the land classification for Balakrishnan Street (V.M) (JPT)?

Balakrishnan Street (V.M) (JPT) is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Balakrishnan Street (V.M) (JPT)?

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

How is the stamp duty calculated for property in Balakrishnan Street (V.M) (JPT)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 41,00,000, the stamp duty at 7% would be Rs 2,87,000.