Guideline Value for Balakrishnan Street

Balakrishnan Street guideline value

The current guideline value of Balakrishnan Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class III Type - II.

How the guideline value of Balakrishnan Street has changed

The guideline value for Balakrishnan Street has undergone several revisions over the years. In 2002, the value was Rs 138 per sq.ft, which increased to Rs 156 per sq.ft in 2003, marking a 13% rise. By 2007, the value had significantly increased to Rs 260 per sq.ft, a change of 67%. The following revision in 2017 saw a substantial jump to Rs 1,072 per sq.ft, reflecting a 312% increase. The 2023 revision set the value at Rs 1,600 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has raised the guideline value to Rs 1,760 per sq.ft, a 10% increase from the previous year. Notably, there is no figure available for this street in the 2012 revision.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that Balakrishnan Street's current value is below this median.

• Balaji Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Balaji Street Extn., /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Balaraman Street/ Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Balasubramainum Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Balasubramani Street, Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Baskaran Street, Gandhi Nagar Extn: Rs 2,475 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 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty, calculated at 7%, would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balakrishnan Street?

Balakrishnan Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

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 ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balakrishnan Street?

The current guideline value of Balakrishnan Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 138 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 1175%.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is higher than the current value of Balakrishnan Street.

What are the stamp duty and registration fees for property in Balakrishnan Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles the registration for Balakrishnan Street?

The Pammal Sub Registrar Office handles the registration for Balakrishnan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.