Guideline Value for Balakrishnapuram 5th Street (Balakrishnapuram colony)

Balakrishnapuram 5th Street (Balakrishnapuram colony) guideline value

The current guideline value of Balakrishnapuram 5th Street (Balakrishnapuram colony) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO with a land classification of Residential Class I Type - III.

How the guideline value of Balakrishnapuram 5th Street (Balakrishnapuram colony) has changed

The guideline value for Balakrishnapuram 5th Street has seen 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.

Overall, from 2012 to 2024, the guideline value has increased by 11%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register.

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 equal to the 2024 guideline value of Balakrishnapuram 5th Street.

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

Stamp duty and registration fee for property in Balakrishnapuram 5th 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 amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishnapuram 5th Street (Balakrishnapuram colony)?

The Sub Registrar Office that covers Balakrishnapuram 5th 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, as it reflects the prevailing rates in the locality. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Balakrishnapuram 5th Street?

The current guideline value of Balakrishnapuram 5th 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 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification of Balakrishnapuram 5th Street?

Balakrishnapuram 5th Street is classified as Residential Class I Type - III.

Where can I find the registration office for Balakrishnapuram 5th Street?

The registration office for Balakrishnapuram 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Balakrishnapuram 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.