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Guideline Value

Corporate

Guideline Value for BABU NAGAR NEELA NAGAR ANNEX SALAI

₹2750/sq.ft.

The guideline value for Babu Nagar Neela Nagar Annex Salai in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Babu Nagar Neela Nagar Annex Salai

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Babu Nagar Neela Nagar Annex Salai guideline value

The current guideline value of Babu Nagar Neela Nagar Annex Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Babu Nagar Neela Nagar Annex Salai has changed

Over the years, the guideline value for Babu Nagar Neela Nagar Annex Salai has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then dropped to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Babu Nagar Neela Nagar Annex Salai's 2024 figure above that median.

Stamp duty and registration fee for property in Babu Nagar Neela Nagar Annex Salai

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Babu Nagar Neela Nagar Annex Salai?

The Sub Registrar Office that covers Babu Nagar Neela Nagar Annex Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Babu Nagar Neela Nagar Annex Salai?

The current guideline value of Babu Nagar Neela Nagar Annex Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Babu Nagar Neela Nagar Annex Salai?

Babu Nagar Neela Nagar Annex Salai is classified as Commercial Class I Type - III, indicating its commercial usage and potential.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Babu Nagar Neela Nagar Annex Salai?

The Sub Registrar Office for Babu Nagar Neela Nagar Annex Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.