Guideline Value for Balakrishnan Street

Balakrishnan Street guideline value

The current guideline value of Balakrishnan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Balakrishnan Street has changed

The guideline value for Balakrishnan Street has undergone several revisions over the years. Starting from Rs 417 per sq.ft in 2003, it increased to Rs 800 per sq.ft in 2007, marking a significant rise of 92%. The value then jumped to Rs 2,500 per sq.ft in 2012, which was a 213% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by another rise to the current rate of Rs 2,700 per sq.ft in 2024, which is an 8% increase.

It is important to note that there is no figure available for Balakrishnan Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 547%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Balakrishnan Street.

• Bazaar Road, Police Station Road, Indra Gandhi Road: Rs 4,400 per sq.ft (2024)
• Bakthavalsalam Nagar: Rs 2,700 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,850 per sq.ft (2024)
• Bharath Nagar (Semman Nagar): Rs 2,200 per sq.ft (2024)
• Bharathy Street: Rs 2,700 per sq.ft (2024)
• Asen Basha Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan Street

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, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishnan Street?

The Sub Registrar Office that covers Balakrishnan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps in maintaining a standard valuation for properties, making it easier for buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Balakrishnan Street?

The current guideline value of Balakrishnan Street 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 417 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 547% over this period.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, which is the same as the current value for Balakrishnan Street.

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

The stamp duty rate for properties in Balakrishnan Street is 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 located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.