Guideline Value for Balakrishnan Street (VOC Block)

Balakrishnan Street (VOC Block) guideline value

The current guideline value of Balakrishnan Street (VOC Block) 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 (VOC Block) has changed

Over the years, the guideline value for Balakrishnan Street (VOC Block) has experienced significant changes. The most recent revision in 2024 set the value at Rs 4,100 per sq.ft, up from Rs 3,750 per sq.ft in 2023, marking a 9% increase. Before that, the value was Rs 2,512 per sq.ft in 2017, which shows a substantial increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 3,750 per sq.ft, indicating a decrease of 33% from the 2017 figure. The value was Rs 1,210 per sq.ft in 2007, reflecting a significant increase of 210% to reach the 2012 value.

The overall change from the 2007 revision to the 2024 revision is a remarkable increase of 239%. 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, with a median value of Rs 4,900 per sq.ft. Balakrishnan Street (VOC Block) is currently below this median value.

• Balakrishnan Street (V.M) : Rs 4,100 per sq.ft (2024)
• Balakrishnan Street (W.M) : Rs 7,700 per sq.ft (2024)
• Balakrishnan Street (Kodambakkam Salai) : Rs 5,500 per sq.ft (2024)
• Balakrishnan Street (Block 93, 94) : Rs 5,500 per sq.ft (2024)
• Balakrishnan Street (Block 76) : Rs 4,900 per sq.ft (2024)
• Balakrishnan Naicken Street(Extension) : Rs 7,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total costs together to Rs 3,69,000. 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 (VOC Block)?

The Sub Registrar Office that covers Balakrishnan Street (VOC Block) 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 is a crucial factor during the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid to the government, ensuring that the transaction is legally recognized and documented.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Balakrishnan Street (VOC Block) 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 from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, representing an overall increase of 239%.

What are the stamp duty and registration fees for property in Balakrishnan Street (VOC Block)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 3,69,000.

Which Sub Registrar Office covers Balakrishnan Street (VOC Block)?

The Ashok Nagar Sub Registrar Office covers Balakrishnan Street (VOC Block), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Balakrishnan Street (VOC Block)?

The land classification for Balakrishnan Street (VOC Block) is Residential Class IV Type - I.