Guideline Value for BABA STREET

Baba Street guideline value

The current guideline value of Baba Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Baba Street has changed

The guideline value for Baba Street has seen several revisions over the years. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, in 2017, it dropped to Rs 536 per sq.ft, before rising again to Rs 800 per sq.ft in both 2023 and 2024, reflecting no change from the previous year.

From 2017 to 2023, the value rose by 49%, while the increase from 2007 to 2012 was a substantial 540%. Overall, from 2007 to 2024, the guideline value has increased by 540%. The register does not contain figures for the years 2002 and 2003 for Baba Street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Baba Street's current value below this median.

• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Awwai Street: Rs 1,000 per sq.ft (2024)
• Awaiyar Street: Rs 1,000 per sq.ft (2024)
• Arumugam Street: Rs 1,300 per sq.ft (2024)
• Anna Street: Rs 1,300 per sq.ft (2024)
• Anna Nagar Sellum Salai: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Baba Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, while the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. 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 Street?

Baba Street is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Baba Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then dropped to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in both 2023 and 2024.

What is the land classification of Baba Street?

Baba Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Baba Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would be Rs 72,000.

Which office handles the registration for Baba Street?

The registration for Baba Street is handled by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.