Guideline Value for Balamuthu Krishnan Colony

Balamuthu Krishnan Colony guideline value

The current guideline value of Balamuthu Krishnan Colony is Rs 9,300 per sq.ft, effective from 1 July 2024. This colony is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Balamuthu Krishnan Colony has changed

The guideline value for Balamuthu Krishnan Colony has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 945 per sq.ft. It increased significantly to Rs 3,000 per sq.ft in 2007, marking a 217% rise. The value then rose to Rs 8,500 per sq.ft in 2012, which was a 183% increase from the previous revision. However, it dropped to Rs 5,695 per sq.ft in 2017, reflecting a decrease of 33% from 2012. The value then surged to Rs 8,500 per sq.ft in 2023, and most recently, it has increased to Rs 9,300 per sq.ft in 2024, representing a 9% rise.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 884%. It is important to note that the register has no figure for this street in 2003.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Balamuthu Krishnan Colony's 2024 figure above this median.

• Ballat Madhavan 1st Cross Street: Rs 9,300 per sq.ft (2024)
• Ballat Madhavan Road: Rs 9,300 per sq.ft (2024)
• Ballat Narayani Amma Street: Rs 9,300 per sq.ft (2024)
• Ballat Sankaran Street: Rs 9,300 per sq.ft (2024)
• Begum Sahib 1st Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 2nd Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Balamuthu Krishnan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balamuthu Krishnan Colony?

The Sub Registrar Office that covers Balamuthu Krishnan Colony is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Balamuthu Krishnan Colony?

The current guideline value of Balamuthu Krishnan Colony is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 945 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, representing an overall increase of 884% over this period.

What is the land classification of Balamuthu Krishnan Colony?

Balamuthu Krishnan Colony is classified as Commercial Class I Type - III, which indicates its usage for commercial purposes.

Where can I find the Sub Registrar Office for Balamuthu Krishnan Colony?

The Sub Registrar Office for Balamuthu Krishnan Colony is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018.

How is stamp duty calculated in Balamuthu Krishnan Colony?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, on a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 at 7%.