Guideline Value for BABA NAGAR

Baba Nagar guideline value

The current guideline value of Baba Nagar is Rs 1,008 per sq.ft, effective from 1 July 2024. Baba Nagar is located in Chettimedu village, under the Redhills Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Baba Nagar has changed

The guideline value for Baba Nagar has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, and then further rose to Rs 1,008 per sq.ft in the 2024 revision. The changes from 2012 to 2024 reflect an overall increase of 68%.

Notably, there are no recorded figures for Baba Nagar in the revisions from 2002, 2003, and 2007. The jump from Rs 600 per sq.ft in 2023 to Rs 1,008 per sq.ft in 2024 represents a substantial increase of 68%. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,008 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, placing Baba Nagar's 2024 figure above that median.

• Azhagiri Nagar: Rs 1,000 per sq.ft (2024)
• Bai Nagar: Rs 1,002 per sq.ft (2024)
• Bhanu Nagar: Rs 1,000 per sq.ft (2024)
• Annai Velankanni Avenue: Rs 1,006 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,000 per sq.ft (2024)
• Ananthi Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,008 per sq.ft, the total guideline value amounts to Rs 10,08,000. The stamp duty, charged at 7%, would be Rs 70,560, and the registration fee at 2% would be Rs 20,160, bringing the total to Rs 90,720. 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 detailed calculations.

Which Sub Registrar Office covers Baba Nagar?

The Sub Registrar Office that covers Baba Nagar 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 Chettimedu

The guideline value is a crucial factor in the registration process when buying or selling property in Chettimedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per government standards.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all property transactions are conducted transparently and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Baba Nagar?

The current guideline value of Baba Nagar is Rs 1,008 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 1,008 per sq.ft in 2024.

What is the land classification for Baba Nagar?

Baba Nagar falls under the Residential Class IV Type - I land classification.

Where can I find the registration office for Baba Nagar?

The registration office for Baba Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Baba Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 10,08,000, the stamp duty at 7% would be Rs 70,560.