Guideline Value for BABU NAGAR

Babu Nagar guideline value

The current guideline value of Babu Nagar, located in Thandurai village under the Avadi SRO, is Rs 988 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Babu Nagar has changed

The guideline value for Babu Nagar has undergone several revisions over the years. Starting from Rs 141 per sq.ft in 2002, it increased to Rs 162 per sq.ft in 2003, marking a 15% rise. The value then saw a significant jump to Rs 478 per sq.ft in 2007, which was a 195% increase. Following this, in 2012, the value was revised to Rs 900 per sq.ft, reflecting an 88% increase from the previous revision. However, this value decreased to Rs 603 per sq.ft in 2017, a decline of 33%.

The most recent revisions show a steady increase. In 2023, the guideline value rose to Rs 900 per sq.ft, and then to Rs 988 per sq.ft in 2024, indicating a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 601%.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value is Rs 988 per sq.ft, which is equal to the 2024 figure for Babu Nagar. Below are other streets in Thandurai with their respective guideline values:

• Bajanai Koil St: Rs 988 per sq.ft (2024)
• Bajanai Koil St 1st Street: Rs 988 per sq.ft (2024)
• Bajanai Koil St 2nd Street: Rs 988 per sq.ft (2024)
• Bajanai Koil St 3rd Street: Rs 988 per sq.ft (2024)
• Bajanai Koil St 4th Street: Rs 988 per sq.ft (2024)
• Bajanai Koil St Back Side: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Babu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value amounts to Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, and the registration fee at 2% would be Rs 19,760, bringing the total cost for these fees to Rs 88,920. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Babu Nagar?

Babu Nagar falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Thandurai. It serves as a benchmark for determining 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 in assessing the transaction's legitimacy. Buyers and sellers must consider this value to ensure compliance with local regulations and avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Babu Nagar?

The current guideline value of Babu Nagar is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 141 per sq.ft in 2002 to Rs 988 per sq.ft in 2024, reflecting an overall increase of 601% over this period.

What are the other streets in Thandurai with the same guideline value?

Other streets in Thandurai with the same guideline value of Rs 988 per sq.ft include Bajanai Koil St, Bajanai Koil St 1st Street, Bajanai Koil St 2nd Street, Bajanai Koil St 3rd Street, Bajanai Koil St 4th Street, and Bajanai Koil St Back Side.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 88,920.

Where is the Sub Registrar Office for Babu Nagar located?

The Avadi Sub Registrar Office, which covers Babu Nagar, is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.