Guideline Value for Bala Ganesar Nagar

Bala Ganesar Nagar guideline value

The current guideline value of Bala Ganesar Nagar, located in Attanthangal village under the Redhills SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Bala Ganesar Nagar has changed

The guideline value for Bala Ganesar Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 60 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a 400% increase. The value then rose to Rs 800 per sq.ft in 2012, reflecting a 167% increase. However, between 2012 and 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. From 2017 to 2023, the value surged to Rs 800 per sq.ft, an increase of 49%. The most recent revision in 2024 sets the guideline value at Rs 880 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1367%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the 2024 figure for Bala Ganesar Nagar.

• Balaganesar Nagar 11th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 12th Street: Rs 880 per sq.ft (2024)
• Balaganear Nagar 10th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 13th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 14th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 15th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Bala Ganesar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total costs together to Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bala Ganesar Nagar?

The Sub Registrar Office covering Bala Ganesar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions within Attanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is bought or sold, the guideline value is considered to ascertain the applicable charges. This value is used to calculate the stamp duty based on the higher of the guideline value or the sale price, ensuring that all parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Bala Ganesar Nagar?

The current guideline value of Bala Ganesar Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 60 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, marking an overall increase of 1367%.

What is the land classification for Bala Ganesar Nagar?

Bala Ganesar Nagar is classified as Residential Class I Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,80,000, the total fees would amount to Rs 79,200.

Which office handles registrations for properties in Bala Ganesar Nagar?

The Redhills Sub Registrar Office handles registrations for properties in Bala Ganesar Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.