Guideline Value for BABU AVENUE II

Babu Avenue II guideline value

The current guideline value of Babu Avenue II is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Manancheri village under the Kunrathur SRO, and it falls under the Mixed Type - III land classification.

How the guideline value of Babu Avenue II has changed

The guideline value for Babu Avenue II has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,430 per sq.ft, an increase from Rs 1,300 per sq.ft in 2023. Notably, there was no change in the figure from the 2017 revision, which also stood at Rs 1,300 per sq.ft. The overall change from the 2017 revision to the 2024 revision is an increase of 10%.

Prior to the 2017 revision, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the 2017 figure was the first recorded value for Babu Avenue II. The increase from the 2023 to the 2024 revision is 10%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, making Babu Avenue II's current value above this median.

• Babu Avenue I: Rs 1,430 per sq.ft (2024)
• Babu Avenue-III: Rs 1,430 per sq.ft (2024)
• Babu Avenue: Rs 1,430 per sq.ft (2024)
• Bajanai koil Street: Rs 550 per sq.ft (2024)
• Bajanai koil Street 1st sandhu: Rs 550 per sq.ft (2024)
• Bajanai koil Street 2nd sandhu: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Avenue II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, resulting in a total of Rs 1,28,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Babu Avenue II?

The Sub Registrar Office that covers Babu Avenue II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Manancheri. It is used to determine the stamp duty and registration fees that are required to be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Babu Avenue II?

The current guideline value of Babu Avenue II is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,300 per sq.ft in 2023 to Rs 1,430 per sq.ft in 2024, marking a 10% increase. There was no change from the 2017 revision, which also recorded Rs 1,300 per sq.ft.

What is the land classification for Babu Avenue II?

Babu Avenue II falls under the Mixed Type - III land classification as per the current records.

Where can I find the Sub Registrar Office for Babu Avenue II?

The Kunrathur Sub Registrar Office covers Babu Avenue II and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property in Babu Avenue II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,00,100.