Guideline Value for BABU MANOHARAN GARDEN

Babu Manoharan Garden guideline value

The current guideline value of Babu Manoharan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Babu Manoharan Garden has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has seen the guideline value rise to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, indicating that Babu Manoharan Garden's 2024 guideline value is below that median.

• Ayub Garden: Rs 1,000 per sq.ft (2024)
• Bakundeen Group Garden: Rs 1,000 per sq.ft (2024)
• Arasan Garden: Rs 1,000 per sq.ft (2024)
• Aqua Sphero: Rs 3,300 per sq.ft (2024)
• Anna Salai West Street: Rs 1,700 per sq.ft (2024)
• Anna Salai 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Manoharan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Manoharan Garden?

The Sub Registrar Office that covers Babu Manoharan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Chemmancheri. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an established value.

At the time of registration, the guideline value helps determine the official value of the property, which is essential for legal documentation and taxation purposes. This ensures transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Babu Manoharan Garden?

The current guideline value of Babu Manoharan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Babu Manoharan Garden?

Babu Manoharan Garden is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.