Guideline Value for BABU AVENUE

Babu Avenue guideline value

The current guideline value of Babu Avenue in Manancheri village, under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - III.

How the guideline value of Babu Avenue has changed

The guideline value for Babu Avenue has seen revisions over the years. The 2017 revision recorded a value of Rs 1,300 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,300 per sq.ft, but it increased by 10% to Rs 1,430 per sq.ft in the 2024 revision.

Prior to the 2017 revision, the register has no figures for Babu Avenue in the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 10%.

Guideline values in Manancheri

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

• Babu Avenue I: Rs 1,430 per sq.ft (2024)
• Babu Avenue II: Rs 1,430 per sq.ft (2024)
• Babu Avenue-III: 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

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 the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babu Avenue?

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

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

When buying or selling property in Manancheri, the guideline value is a critical factor in determining the stamp duty and registration fees. It serves as a reference point for the value of the property and is used by the authorities to calculate the applicable taxes during the registration process.

It is essential for buyers and sellers to be aware of the current guideline values, as these figures can influence the overall cost of the transaction. Ensuring that the sale price aligns with or exceeds the guideline value is crucial for compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Babu Avenue?

The current guideline value of Babu Avenue 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 remained at Rs 1,300 per sq.ft from 2017 to 2023 and increased by 10% to Rs 1,430 per sq.ft in 2024. Overall, there has been a 10% increase from 2017 to 2024.

What is the land classification for Babu Avenue?

The land classification for Babu Avenue is Mixed Type - III. This classification indicates the type of development permissible in the area.

What are the stamp duty and registration fees for a property in Babu Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 14,30,000. The stamp duty would be Rs 1,00,100, and the registration fee would be Rs 28,600, totaling Rs 1,28,700.

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

The Sub Registrar Office for Babu Avenue is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO through the provided link.