Guideline Value for BABALISAM MANAI LAYOUT

Babalisam Manai Layout guideline value

The current guideline value of Babalisam Manai Layout is Rs 550 per sq.ft, effective from 1 July 2024. This layout is located in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Babalisam Manai Layout has changed

The guideline value for Babalisam Manai Layout has seen significant changes over the years. In the 2017 revision, the value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The recent 2024 revision has set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of Babalisam Manai Layout.

• Babu Nagar: Rs 1,320 per sq.ft (2024)
• Bajanai Kovil Street: Rs 1,320 per sq.ft (2024)
• Bakthavatchalam Salai: Rs 1,320 per sq.ft (2024)
• Athippattu Railway Station Road: Rs 550 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Aravind Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Babalisam Manai Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. 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 Babalisam Manai Layout?

The Babalisam Manai Layout is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Minjur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Babalisam Manai Layout?

The current guideline value of Babalisam Manai Layout is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This reflects a total increase of 64% from 2017 to 2024.

What is the land classification of Babalisam Manai Layout?

Babalisam Manai Layout is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Babalisam Manai Layout?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.