Guideline Value for Bala Ganesa Nagar

Bala Ganesa Nagar guideline value

The current guideline value of Bala Ganesa Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 820 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Bala Ganesa Nagar has changed

The guideline value for Bala Ganesa Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 502 per sq.ft. This increased to Rs 750 per sq.ft in the 2023 revision, marking a significant rise of 49% over the six-year period. The most recent revision in 2024 has further increased the guideline value to Rs 820 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, indicating that Bala Ganesa Nagar's 2024 figure of Rs 820 per sq.ft is above this median.

• Balaji Nagar: Rs 550 per sq.ft (2024)
• Athithya Nagar: Rs 660 per sq.ft (2024)
• Bismillah Golden City: Rs 660 per sq.ft (2024)
• Brindhavan Garden: Rs 510 per sq.ft (2024)
• Classic Avenue: Rs 440 per sq.ft (2024)
• Al Ameen Nagar II Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Ganesa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 820 per sq.ft, the total guideline value would be Rs 8,20,000. The stamp duty at 7% would amount to Rs 57,400, and the registration fee at 2% would be Rs 16,400, bringing the total fees to Rs 73,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bala Ganesa Nagar?

The Sub Registrar Office that covers Bala Ganesa Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value will be used to calculate the applicable charges, ensuring that the fees reflect the official valuation of the property in the area.

Frequently asked questions

What is the current guideline value of Bala Ganesa Nagar?

The current guideline value of Bala Ganesa Nagar is Rs 820 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased from Rs 502 per sq.ft to Rs 820 per sq.ft in 2024, marking an overall increase of 63% over this period.

What are the stamp duty rates for property transactions in Bala Ganesa Nagar?

The stamp duty rate for property transactions in Bala Ganesa Nagar is 7%, calculated based on the higher of the guideline value or the sale price.

What is the registration fee for property in this area?

The registration fee for property in Bala Ganesa Nagar is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bala Ganesa Nagar located?

The Sub Registrar Office for Bala Ganesa Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.