Guideline Value for Balaganesar Nagar 12th Street

Balaganesar Nagar 12th Street guideline value

The current guideline value of Balaganesar Nagar 12th Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Attanthangal village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Balaganesar Nagar 12th Street has changed

The guideline value for Balaganesar Nagar 12th Street has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a significant rise of 167%. However, between 2012 and 2017, the value decreased to Rs 536 per sq.ft, a drop of 33%. The value then increased to Rs 800 per sq.ft in 2023, followed by a further increase to Rs 880 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 193%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the 2024 guideline value for Balaganesar Nagar 12th Street.

• Balaganesar Nagar 11th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 13th Street: Rs 880 per sq.ft (2024)
• Bala Ganesar Nagar: 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)
• Balaganesar Nagar 16th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaganesar Nagar 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Balaganesar Nagar 12th Street?

The Sub Registrar Office that covers Balaganesar Nagar 12th 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Attanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaganesar Nagar 12th Street?

The current guideline value of Balaganesar Nagar 12th Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the registration fee for property in Balaganesar Nagar 12th Street?

The registration fee is 2% of the guideline value. For a property valued at Rs 8,80,000, the registration fee would be Rs 17,600.

Which office handles property registrations in this area?

The Redhills Sub Registrar Office handles property registrations for Balaganesar Nagar 12th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

Are there any revisions without figures for this street?

Yes, the guideline value register has no figures for the years 2002 and 2003 for Balaganesar Nagar 12th Street.