Guideline Value for BABU JAJEEVAN NAGAR

Babu Jajeevan Nagar guideline value

The current guideline value of Babu Jajeevan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Babu Jajeevan Nagar has changed

The guideline value for Babu Jajeevan Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, this value saw a decrease of 33% to Rs 2,010 per sq.ft in 2017, before climbing to Rs 3,000 per sq.ft in 2023, and finally reaching the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Babu Jajeevan Nagar aligns with this median.

• Baharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bakthavasalam Nagar (Tsr Nagar): Rs 3,700 per sq.ft (2024)
• Ashok Leyland Colony: Rs 1,300 per sq.ft (2024)
• Ashok Avenue: Rs 2,400 per sq.ft (2024)
• A.Sathanthapuram (New Colony): Rs 2,800 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Jajeevan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Babu Jajeevan Nagar?

Babu Jajeevan Nagar falls under the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Thiruvottiyur. It determines 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 helps both parties understand the baseline value of the property. It is essential to consider the guideline value when negotiating the sale price, as the registration costs are based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Babu Jajeevan Nagar?

The current guideline value of Babu Jajeevan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a significant increase of 560% over the years.

What are the stamp duty rates for properties in Babu Jajeevan Nagar?

The stamp duty rate for properties in Babu Jajeevan Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Which office handles property registrations in Thiruvottiyur?

The Thiruvottiyur Sub Registrar Office handles property registrations in Thiruvottiyur, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Babu Jajeevan Nagar?

Babu Jajeevan Nagar is classified as Residential Special Type - I, which influences its guideline value and property usage regulations.