Guideline Value for Balakrishnan Street (W.M)

Balakrishnan Street (W.M) guideline value

The current guideline value of Balakrishnan Street (W.M) is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - II.

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

Over the years, the guideline value of Balakrishnan Street (W.M) has seen several revisions. The 2012 revision recorded a guideline value of Rs 7,000 per sq.ft, which decreased to Rs 4,690 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value increased to Rs 7,000 per sq.ft in the 2023 revision and then rose again to Rs 7,700 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 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 in this area is Rs 4,900 per sq.ft, placing Balakrishnan Street (W.M) above the median with its current value of Rs 7,700 per sq.ft.

• Balakrishnan Street (VOC Block): Rs 4,100 per sq.ft (2024)
• Balakrishnan Street (V.M) (JPT): Rs 4,100 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 (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

To calculate your own fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Balakrishnan Street (W.M) 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 more information.

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

The guideline value is a critical factor when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers should be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Balakrishnan Street (W.M) is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 per sq.ft in 2012, decreased to Rs 4,690 per sq.ft in 2017, increased to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Balakrishnan Street (VOC Block) and Balakrishnan Street (V.M) (JPT) at Rs 4,100 per sq.ft, Balakrishnan Street (Kodambakkam Salai) and Balakrishnan Street (Block 93, 94) (S.P) at Rs 5,500 per sq.ft, and Balakrishnan Street (Block 76) (JPT) at Rs 4,900 per sq.ft.

What is the registration fee for property in Balakrishnan Street (W.M)?

The registration fee for property in Balakrishnan Street (W.M) is calculated at 2% of the guideline value. For example, for a property valued at Rs 77,00,000, the registration fee would be Rs 1,54,000.

Where is the Sub Registrar Office located for Balakrishnan Street (W.M)?

The Sub Registrar Office for Balakrishnan Street (W.M) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.