Guideline Value for Balakrishnan Street

Balakrishnan Street guideline value

The current guideline value of Balakrishnan Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Balakrishnan Street has changed

The guideline value for Balakrishnan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then revised to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for Balakrishnan Street in the revisions from 2002, 2003, and 2007. Overall, comparing the values from 2012 to 2024, there has been a net increase of 10%.

Guideline values in Peerklankaranai

In the village of Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value. The values range from Rs 880 to Rs 4,400 per sq.ft, with the median being Rs 1,650 per sq.ft. Balakrishnan Street's 2024 guideline value aligns with this median.

• Balakrishna nagar: Rs 1,980 per sq.ft (2024)
• Balaji Street: Rs 1,650 per sq.ft (2024)
• Ballikuda 1st street: Rs 1,650 per sq.ft (2024)
• Ballikuda 2nd Street: Rs 1,650 per sq.ft (2024)
• Bangaru Kamatchi amman st: Rs 1,650 per sq.ft (2024)
• Barathi Dossan Nagar: Rs 1,980 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role during the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office uses the guideline value to ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher amount will be used for calculating the duties.

Frequently asked questions

What is the current guideline value for Balakrishnan Street?

The current guideline value for Balakrishnan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Balakrishnan Street?

Balakrishnan Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties on Balakrishnan Street?

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500 and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Balakrishnan Street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.