Guideline Value for BABA NAGAR

Baba Nagar guideline value

The current guideline value of Baba Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Baba Nagar has changed

The guideline value of Baba Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 152 per sq.ft. This increased to Rs 750 per sq.ft in 2007, marking a substantial rise of 393%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting an increase of 233%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft from the 2024 revision, indicating an increase of 12% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,742%. The register has no figure for this street in 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Baba Nagar's 2024 figure above that median.

• Babuji Farms: Rs 3,900 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Australia Avenue: Rs 2,200 per sq.ft (2024)
• Arputha Thotta Salai(Arputha Thottam): Rs 2,200 per sq.ft (2024)
• Arichandran Main Road: Rs 2,800 per sq.ft (2024)
• Arichandran Avenue: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baba Nagar?

The Sub Registrar Office that covers Baba Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duties are calculated based on this guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Baba Nagar?

The current guideline value of Baba Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 152 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, an overall increase of 1,742%.

What is the stamp duty for property in Baba Nagar?

The stamp duty for property in Baba Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What are the guideline values of other streets in Enjambakkam?

Other streets in Enjambakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 7,200 per sq.ft. For example, Babuji Farms has a rate of Rs 3,900 per sq.ft, while Australia Avenue has a rate of Rs 2,200 per sq.ft.