Guideline Value for Balakrishnan naidu street

Balakrishnan naidu street guideline value

The current guideline value of Balakrishnan naidu street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sundaracholavaram village, under the Kunrathur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Balakrishnan naidu street has changed

Starting with the 2012 revision, the guideline value was Rs 600 per sq.ft. In the 2017 revision, it decreased to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 600 per sq.ft, followed by another increase to Rs 660 per sq.ft in the 2024 revision, reflecting a change of 10% from the previous year. The 2024 figure is also equal to the median guideline value for Sundaracholavaram.

There are no recorded figures for Balakrishnan naidu street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is the same as the guideline value for Balakrishnan naidu street.

• Balakrishnan Nagar: Rs 880 per sq.ft (2024)
• Bajanai Koil to Koladi link: Rs 660 per sq.ft (2024)
• Bajanai Koil Street: Rs 550 per sq.ft (2024)
• Bajanai koil I st Street: Rs 550 per sq.ft (2024)
• AzhagarSwamy Nager: Rs 660 per sq.ft (2024)
• Avadi Paruthippattu Road: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnan naidu street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, which totals Rs 46,200, while the registration fee at 2% amounts to Rs 13,200. Therefore, the total cost for stamp duty and registration fee together is Rs 59,400. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishnan naidu street?

The Sub Registrar Office covering Balakrishnan naidu street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Sundaracholavaram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the financial obligations during registration. Buyers should ensure they are informed about the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Balakrishnan naidu street?

The current guideline value of Balakrishnan naidu street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with notable revisions in 2012, 2017, 2023, and 2024. From 2012 to 2017, it decreased, then increased significantly in the following revisions.

What is the land classification for Balakrishnan naidu street?

Balakrishnan naidu street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Balakrishnan naidu street?

The registration office for Balakrishnan naidu street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sundaracholavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,60,000 incurs a stamp duty of Rs 46,200 at a rate of 7%.