Guideline Value for Balaganesar Nagar 4th Street

Balaganesar Nagar 4th Street guideline value

The current guideline value of Balaganesar Nagar 4th 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 4th Street has changed

The guideline value for Balaganesar Nagar 4th Street has seen significant changes over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then dropped to Rs 536 per sq.ft in 2017. The value rose again to Rs 800 per sq.ft in 2023, and most recently, it has reached Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 193%. It is important to note that the register has no figures for this street for the years 2002 and 2003.

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, with a median value of Rs 880 per sq.ft. Balaganesar Nagar 4th Street's 2024 figure is equal to this median.

• Balaganesar Nagar 1st Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 2nd Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 3rd Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 4th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 5th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 6th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 7th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaganesar Nagar 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Balaganesar Nagar 4th Street?

The Sub Registrar Office that covers Balaganesar Nagar 4th 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 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 registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Balaganesar Nagar 4th Street?

The current guideline value of Balaganesar Nagar 4th 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 significantly, from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

What is the land classification for Balaganesar Nagar 4th Street?

Balaganesar Nagar 4th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers this area?

The Redhills Sub Registrar Office covers Balaganesar Nagar 4th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.