Guideline Value for Balaganesar Nagar Main Street

Balaganesar Nagar Main Street guideline value

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

How the guideline value of Balaganesar Nagar Main Street has changed

Over the years, the guideline value for Balaganesar Nagar Main Street has seen several revisions. 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, the value then decreased to Rs 536 per sq.ft in 2017, reflecting a drop of 33%. The next revision in 2023 raised it to Rs 800 per sq.ft, and the most recent revision in 2024 has set it at Rs 880 per sq.ft, which is a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, resulting in an overall increase of 193%. The revisions for the years 2002 and 2003 do not have figures listed for this street.

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 the median value also being Rs 880 per sq.ft. Balaganesar Nagar Main Street's 2024 figure aligns with this median.

• Balaganesar Nagar 9th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 8th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 7th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 6th Street: Rs 880 per sq.ft (2024)
• Balaganesar Nagar 5th 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 Main 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 cost for these fees to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Balaganesar Nagar Main Street?

The Sub Registrar Office that covers Balaganesar Nagar Main 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 assessed, and the corresponding fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Balaganesar Nagar Main Street?

The current guideline value of Balaganesar Nagar Main 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 increased from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What are the stamp duty and registration fees for properties 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, totaling Rs 79,200.

Which office handles property registrations in this area?

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

Are there other streets with the same guideline value?

Yes, several other streets in Attanthangal also have a guideline value of Rs 880 per sq.ft for 2024, including Balaganesar Nagar 9th Street, 8th Street, 7th Street, 6th Street, 5th Street, and 4th Street.