Guideline Value for Balaganesar Nagar 6th Street

Balaganesar Nagar 6th Street guideline value

The current guideline value of Balaganesar Nagar 6th Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Attanthangal village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Balaganesar Nagar 6th Street has changed

The guideline value for Balaganesar Nagar 6th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, which set the value at Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 167% rise. However, between 2012 and 2017, the value dropped to Rs 536 per sq.ft, a decrease of 33%. The value then rose to Rs 800 per sq.ft in 2023, and currently stands at Rs 880 per sq.ft after a 10% increase in the 2024 revision.

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

Guideline values in Attanthangal

In Attanthangal village, 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 also the guideline value for Balaganesar Nagar 6th Street.

• Balaganesar Nagar 5th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 7th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 4th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 8th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 3rd Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 9th Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Balaganesar Nagar 6th 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, leading to a total of 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaganesar Nagar 6th Street?

The Sub Registrar Office that covers Balaganesar Nagar 6th 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 property transactions in Attanthangal, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties. This ensures that all property transactions are recorded at a fair and consistent value, reflecting the established rates in the area.

Frequently asked questions

What is the current guideline value of Balaganesar Nagar 6th Street?

The current guideline value of Balaganesar Nagar 6th 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 a total increase of 193% over the years.

What are the stamp duty and registration fees for a property here?

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, resulting in a total of Rs 79,200.

Which office handles property registrations for this area?

The Redhills Sub Registrar Office handles property registrations for Balaganesar Nagar 6th Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value?

The guideline value is used to determine the minimum registration value for properties in Attanthangal, influencing the stamp duty and registration fees during property transactions.