Guideline Value for Balakrishnapuram Main Street/Road (Balakrishnapuram colony)

Balakrishnapuram Main Street/Road (Balakrishnapuram colony) guideline value

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

How the guideline value of Balakrishnapuram Main Street/Road (Balakrishnapuram colony) has changed

The guideline value for Balakrishnapuram Main Street/Road 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 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision has established the current value at Rs 3,900 per sq.ft.

Between the revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The latest change from 2023 to 2024 reflects an increase of 11%. Overall, comparing the values from 2012 to 2024, there has been an increase of 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median value being Rs 3,900 per sq.ft. The guideline value for Balakrishnapuram Main Street/Road matches this median.

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

Stamp duty and registration fee for property in Balakrishnapuram Main Street/Road (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, and the registration fee at 2% would be Rs 78,000, resulting in a total of 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Balakrishnapuram Main Street/Road (Balakrishnapuram colony)?

The Alandur Sub Registrar Office covers Balakrishnapuram Main Street/Road (Balakrishnapuram colony). The office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

When buying or selling property in Adambakkam, the guideline value is a crucial factor as it determines the minimum value at which a property can be registered. This value is set by the government and is used to calculate stamp duty and registration fees during the transaction process.

It is important for buyers and sellers to be aware of the guideline value as it influences the overall cost of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Balakrishnapuram Main Street/Road?

The current guideline value of Balakrishnapuram Main Street/Road (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 increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the stamp duty rate for properties in Balakrishnapuram Main Street/Road?

The stamp duty rate for properties in Balakrishnapuram Main Street/Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Balakrishnapuram Main Street/Road?

The Alandur Sub Registrar Office is responsible for handling property registrations for Balakrishnapuram Main Street/Road (Balakrishnapuram colony).

Where can I find more information about stamp duty and registration fees?

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