Guideline Value for Balaganesar Nagar 1st Street

Balaganesar Nagar 1st Street guideline value

The current guideline value of Balaganesar Nagar 1st Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Attanthangal village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Balaganesar Nagar 1st Street has changed

The guideline value for Balaganesar Nagar 1st Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 167%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 800 per sq.ft in 2023, followed by a further increase to Rs 880 per sq.ft in 2024, which is a rise of 10%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

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 is Rs 880 per sq.ft, which is also the current guideline value for Balaganesar Nagar 1st Street.

• Balaganesar Nagar 17th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 2nd Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 16th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 3rd Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 15th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 4th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaganesar Nagar 1st Street

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 fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaganesar Nagar 1st Street?

The Sub Registrar Office that covers Balaganesar Nagar 1st Street is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in 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 refer to the guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaganesar Nagar 1st Street?

The current guideline value of Balaganesar Nagar 1st 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 are the other streets with the same guideline value in Attanthangal?

Other streets in Attanthangal with the same guideline value of Rs 880 per sq.ft include Balaganesar Nagar 17th Street, 2nd Street, 16th Street, 3rd Street, 15th Street, and 4th Street.

What fees are associated with buying property in Balaganesar Nagar 1st Street?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Balaganesar Nagar 1st Street?

The Sub Registrar Office for Balaganesar Nagar 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.