Guideline Value for BABAVIN SRI PERUMAL GARDEN

Babavin Sri Perumal Garden guideline value

The current guideline value of Babavin Sri Perumal Garden is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Senchiyakaram village under the Oothukkottai SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Babavin Sri Perumal Garden has changed

Over the years, the guideline value of Babavin Sri Perumal Garden has undergone several revisions. The oldest recorded revision is from 2012, where the guideline value was Rs 75 per sq.ft. In 2017, this value increased to Rs 50 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the guideline value rose significantly by 100%, reaching Rs 100 per sq.ft. The 2023 revision maintained this value, and the same Rs 100 per sq.ft will be applicable from 2024 as well. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 33%. The consistent value of Rs 100 per sq.ft from 2023 to 2024 indicates stability in the guideline value for Babavin Sri Perumal Garden.

Guideline values in Senchiyakaram

In Senchiyakaram village, there are four streets under the Oothukkottai SRO that carry a 2024 guideline value of Rs 100 per sq.ft, which is also the median value for the area. Babavin Sri Perumal Garden's 2024 figure aligns with this median.

• Babavin Sri Venkaiah Garden: Rs 100 per sq.ft (2024)
• Bismilla Nagar: Rs 100 per sq.ft (2024)
• Sri Sai Balajinagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Babavin Sri Perumal Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which is Rs 7,000, and the registration fee is charged at 2%, amounting to Rs 2,000. Therefore, the total cost for stamp duty and registration fees together is Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babavin Sri Perumal Garden?

The Sub Registrar Office that covers Babavin Sri Perumal Garden is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai, 602026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Senchiyakaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value, making it essential to understand the current guideline value in the area.

Frequently asked questions

What is the current guideline value of Babavin Sri Perumal Garden?

The current guideline value of Babavin Sri Perumal Garden is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 75 per sq.ft in 2012 to Rs 100 per sq.ft in 2023 and 2024. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification for Babavin Sri Perumal Garden?

Babavin Sri Perumal Garden is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the registration fees for property in Babavin Sri Perumal Garden?

For a property valued at Rs 1,00,000, the stamp duty is Rs 7,000, and the registration fee is Rs 2,000, totaling Rs 9,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Babavin Sri Perumal Garden located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai, 602026, and is responsible for property registrations in this area.