Guideline Value for Balaganesan Street

Balaganesan Street guideline value

The current guideline value of Balaganesan Street in Padiyanallur village, under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Balaganesan Street has changed

The guideline value for Balaganesan Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 171 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 700 per sq.ft, but it then decreased to Rs 469 per sq.ft in 2017. Following this, the 2023 revision set the value at Rs 700 per sq.ft, which then increased by 10% to Rs 770 per sq.ft in the 2024 revision.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 350%. Notably, there is no figure available for Balaganesan Street in the 2002 revision.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value of Balaganesan Street.

• Bajanai Koil Street: Rs 660 per sq.ft (2024)
• Balaji Nagar Part-II: Rs 1,320 per sq.ft (2024)
• Avvaiyar Street: Rs 770 per sq.ft (2024)
• Balasubramaniam Nagar: Rs 770 per sq.ft (2024)
• Athithanar Street: Rs 770 per sq.ft (2024)
• Ashoka Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Balaganesan Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total Rs 69,300. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Balaganesan Street?

The Sub Registrar Office that covers Balaganesan Street 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padiyanallur. It is used to determine the stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Proper understanding of these values can help in ensuring compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Balaganesan Street?

The current guideline value of Balaganesan Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What are the stamp duty and registration fees for property in Balaganesan Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 69,300, calculated based on the guideline value of Rs 7,70,000.

Which Sub Registrar Office covers Balaganesan Street?

The Redhills Sub Registrar Office covers Balaganesan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Balaganesan Street?

Balaganesan Street is classified under Residential Class I Type - I, indicating its designation for residential use.