Guideline Value for Balakrishnapuram 1st Street (Balakrishnapuram colony)

Balakrishnapuram 1st Street (Balakrishnapuram colony) guideline value

The current guideline value of Balakrishnapuram 1st Street (Balakrishnapuram colony) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Balakrishnapuram 1st Street (Balakrishnapuram colony) has changed

The guideline value for Balakrishnapuram 1st Street has undergone several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows an increase of 11%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the current guideline value for Balakrishnapuram 1st Street.

• Balakrishna Puram: Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 2nd Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishna Puram 3rd Street: Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 4th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 5th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)
• Balakrishnapuram 6th Street (Balakrishnapuram colony): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balakrishnapuram 1st Street (Balakrishnapuram colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total charges to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balakrishnapuram 1st Street (Balakrishnapuram colony)?

The Sub Registrar Office that covers Balakrishnapuram 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for ensuring compliance with local regulations and for accurately budgeting for the costs associated with property transactions. It is advisable to consult the latest guideline values before proceeding with any property transactions in the area.

Frequently asked questions

What is the current guideline value of Balakrishnapuram 1st Street?

The current guideline value of Balakrishnapuram 1st Street (Balakrishnapuram colony) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, marking an increase of 11%. The value was Rs 2,345 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Balakrishnapuram 1st Street?

Balakrishnapuram 1st Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for this area?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles registrations for Balakrishnapuram 1st Street.