Guideline Value for Balakrishnapuram 6th Street (Balakrishnapuram colony)

Balakrishnapuram 6th Street (Balakrishnapuram colony) guideline value

The current guideline value of Balakrishnapuram 6th 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. The land classification for this area is Residential Class I Type - III.

How the guideline value of Balakrishnapuram 6th Street (Balakrishnapuram colony) has changed

The guideline value for Balakrishnapuram 6th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. Notably, 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 among these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Balakrishnapuram 6th Street.

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

Stamp duty and registration fee for property in Balakrishnapuram 6th 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 fees together 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balakrishnapuram 6th Street (Balakrishnapuram colony)?

The Sub Registrar Office that covers Balakrishnapuram 6th 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 when registering property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legalizing the transfer of ownership. Buyers should be aware that the fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Balakrishnapuram 6th Street?

The current guideline value of Balakrishnapuram 6th Street (Balakrishnapuram colony) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 increased 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 for Balakrishnapuram 6th Street?

The land classification for Balakrishnapuram 6th Street (Balakrishnapuram colony) is Residential Class I Type - III.

Which office handles registrations for Balakrishnapuram 6th Street?

The Alandur Sub Registrar Office handles registrations for Balakrishnapuram 6th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Balakrishnapuram 6th Street?

The stamp duty for properties in Balakrishnapuram 6th Street 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 total stamp duty would be Rs 2,73,000.