Guideline Value for Balakrishnan Street

Balakrishnan Street guideline value

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

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 guideline value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in 2017. Following this, the value increased to Rs 1,600 per sq.ft in 2023, and finally reached Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value is Rs 1,003 per sq.ft, placing Balakrishnan Street's 2024 value above this median.

• Bala Vinayagar 1st CrossStreet: Rs 1,700 per sq.ft (2024)
• Bala Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Banu Street: Rs 1,700 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,001 per sq.ft (2024)
• Bharathi Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Street(Arumuga Nagar): Rs 1,700 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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?

The Sub Registrar Office that covers Balakrishnan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property registration in Menambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When you buy or sell a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is documented accurately and in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Balakrishnan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Balakrishnan Street?

Balakrishnan Street is classified as Residential Special Type - I.

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

The Ambattur Sub Registrar Office covers Balakrishnan Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties on Balakrishnan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,19,000.